Binance has received approval from the Central Bank of Brazil to acquire Sim;paul, a regulated broker-dealer, further strengthening its position in Brazil. This acquisition makes Binance the first crypto exchange in Brazil to obtain a broker license, demonstrating its commitment to compliance and expanding its offerings. Binance now holds its 21st compliance license globally, solidifying its leadership in regulated crypto activities.
The approval of this acquisition by the Central Bank of Brazil is a significant milestone for Binance, as it marks their entry into the most populous Latin American country. This achievement showcases Binance’s dedication to compliance and regulatory excellence.
Sim;paul provides Binance with the opportunity to offer localized and regulated services in Brazil, as it is a company approved for stock transfers and electronic money creation. Brazil, currently ranked 10th in the Global Crypto Adoption Index, has witnessed a growing interest in digital assets due to the proactive approach taken by organizations such as the Brazilian IRS and the Central Bank of Brazil. These organizations have proposed systems to regulate cryptocurrencies and have sought public opinion to shape comprehensive regulations.
The Brazilian Congress is also enacting laws on asset segregation and stablecoin regulation, reflecting the country’s forward-looking stance in creating a safe and open ecosystem. Binance’s reputation for compliance and user-oriented solutions, combined with its entrance as a licensed broker, is expected to inspire more trust and participation in the local market.
Binance had previously signed a Memorandum of Understanding in March 2022 to explore the acquisition of Sim;paul, showcasing its strategic ambition to establish a stronghold in Brazil. This move aligns with Binance’s expansion plan, which emphasizes compliance with regional rules.
In addition, Binance Labs, a subsidiary of Binance, has announced a rebranding project for 2025, focusing its investments on crypto, blockchain, artificial intelligence (AI), and biotechnology. In 2024 alone, Binance Labs made 46 investments in 46 projects, with 20% of the investments coming from its BND ecosystem.
Furthermore, Binance has utilized artificial intelligence and machine learning to combat fraud, blacklisting 47,000 suspicious addresses, halting dubious transactions, and recovering $9 million monthly. These actions demonstrate Binance’s proactive approach to crypto security and its dedication to protecting the ecosystem, as evidenced by the 15,000 daily alerts sent by the platform.