BCGAME - Free 5BTC Daily Bonus!Binance, the largest cryptocurrency exchange, has received authorization from the Central Bank of Brazil to acquire the Sim;paul brokerage, thus becoming the first cryptocurrency platform to hold a securities brokerage license in the country. In its official statement, shared with PortalCripto, the leader in blockchain infrastructure highlighted that it has achieved its 21st global regulatory milestone.
In the announcement shared on January 2, Binance, which already operated in accordance with the regulatory scenario in the country as a global exchange, highlighted the important move for the company upon receiving approval for the acquisition of Sim;paul, a Brazilian brokerage that holds electronic money issuance (EMI) and securities distribution licenses granted by the Central Bank of Brazil.
Richard Teng, CEO of Binance, commented on the importance of the achievement in a market that is booming in the adoption of cryptocurrencies, as is the case in Brazil.
“We are thrilled to announce this regulatory approval in Brazil, another significant milestone in our global expansion. As a booming market for cryptocurrency adoption, Brazil represents a vibrant and dynamic community that is embracing the future of finance. We commend local regulators for their commitment to setting clear rules for this important and growing industry. The approval received in Brazil underscores our commitment to compliance and security, and we will continue to provide our local users with a safe, reliable and innovative platform to meet their crypto needs,” he highlighted.
Binance's registration in Brazil joins others obtained around the world, including in Argentina in October, and in India, Kazakhstan and Indonesia in recent months, as well as Dubai, France, Japan, El Salvador, among others, previously.
Binance Boosts Liquidity: Stablecoin Reserves Reach Historic Milestone
The year 2024 witnessed several movements in the cryptocurrency market, with highs and lows that impacted investors and exchanges. Amidst this dynamic scenario, Binance, one of the largest global exchanges, reached an impressive milestone: the accumulation of US$31 billion in stablecoin reserves, according to data recently shared by analyst Darkfost, in his analysis on the CryptoQuant platform.
This figure represents a significant jump from the US$7 billion recorded in mid-2023, demonstrating exponential growth in a short period.
This substantial increase in Binance’s stablecoin reserves signals a strengthening of liquidity and renewed confidence in the crypto market. Stablecoins, such as USDT and USDC, play a crucial role in stabilizing the market by facilitating transactions and providing a safe haven during times of volatility. Binance’s ability to accumulate such reserves reinforces its position as a leading player in the space.
