Binance expands in Brazil by acquiring brokerage license

• Binance receives approval from Brazil’s central bank, securing its 21st global compliance license with the acquisition of licensed broker Sim;paul.
• Binance uses AI to improve crypto security, returning $9 million per month and blacklisting 47,000 suspicious addresses in 2024

Binance strengthened its position in Brazil by receiving approval from the Central Bank of Brazil to acquire Sim;paul, a regulated broker-dealer.

With this acquisition, Binance becomes the first crypto exchange in Brazil to acquire a brokerage license, thus demonstrating its commitment to compliance and creative expansion of its offering. So far, Binance has received its 21st compliance license worldwide, strengthening its leadership in regulated crypto activities.

#Binance reached its 21st global regulatory milestone after the Central Bank of Brazil approved the acquisition of a licensed broker-dealer institution in Latin America’s most populous country.

This achievement underscores our commitment to compliance and regulatory excellence… pic.twitter.com/qx0GPyBjrD

— Binance (@binance) January 2, 2025

Binance reinforces confidence in Brazil’s growing crypto ecosystem

Sim;paul gives Binance the opportunity to offer localized, regulated services in Brazil, as it is a company approved for the transfer of shares and the creation of electronic money.

Currently ranked 10th in the Global Crypto Adoption Index, Brazil is seeing increasing interest in digital assets due to the proactive approach of organizations such as the Brazilian IRS and Central Bank of Brazil. Both organizations have proposed systems for regulating cryptocurrency and asked the public to help shape thorough regulation.

Reflecting the country’s forward-looking stance to create a secure and open ecosystem, Brazil’s Congress is also adopting legislation on asset separation and stablecoin regulation.

Highlighted by Binance’s reputation for compliance and customer-oriented solutions, its entry as a licensed broker is likely to encourage more trust and engagement in the local market.

Binance previously signed a Memorandum of Understanding (MoU) in March 2022 to explore the purchase of Sim;paul, confirming its strategic ambition to establish a foothold in Brazil. As Binance emphasizes aligning its worldwide operations with regional rules, a pillar of its expansion plan, this evolution follows.

Previously, CNF reported that Binance Labs has revealed a rebranding project for 2025, focusing its investment on crypto, blockchain, artificial intelligence (AI) and biotechnology. Binance Labs made 46 investments in 46 projects in 2024 alone; 20% of the investment came from its BND ecosystem.

Also, as before recordedto stop $129 million in fraud, blacklist 47,000 suspicious addresses, stop suspicious transactions, and recover $9 million per month, Binance also used artificial intelligence and machine learning.

With these actions, Binance sends 15,000 daily alerts, highlighting its proactive attitude towards crypto security and commitment to protecting the ecosystem.