Share
Binance fortifies its presence in Brazil with approval to acquire Sim;paul, a licensed broker-dealer.
On Dec. 2, Binance announced that it had received full regulatory approval from the Banco Central do Brasil, Brazil’s central bank, to acquire a domestic financial institution. This move highlights Binance’s ongoing efforts to expand its global footprint.
According to Binance CEO Richard Teng, the acquisition of Sim;paul grants the company access to securities distribution and electronic money licenses. Teng noted that the development builds on Binance’s existing compliance efforts in Brazil and marks the company’s 21st global regulatory milestone.
The world’s largest centralized cryptocurrency exchange plans to focus on compliance, security, and innovation for its Brazilian users, Teng added.
We are thrilled to announce our latest regulatory approval. A market with burgeoning crypto adoption, Brazil is home to a vibrant and dynamic community that is readily embracing the future of finance. We thank local regulators for their commitment to defining clear rules for this important, growing industry.
Richard Teng, Binance CEO
#Binance reaches 21st global regulatory milestone after the Central Bank of Brazil approved the acquisition of a licensed broker-dealer institution in the most populous Latin American country.
This achievement underscores our dedication to compliance and regulatory excellence… pic.twitter.com/qx0GPyBjrD
The Sim;paul acquisition was the latest in a basket of regulatory advancements for Teng’s firm. It also recently gained footholds in Argentina, India, and Indonesia.
Meanwhile, the news furthered Brazil’s interest in the blockchain economy and digital assets. Brazil ranked 10th in the Chainalysis global adoption index.
After President Donald Trump’s re-election, the South American giant also eyed Bitcoin (BTC) as a strategic reserve currency. Congressman Eros Biondini proposed allocating up to $18.6 billion of Brazil’s international reserve toward building a national BTC treasury.
Read more about
Deep Dives
What does 2025 have in store for crypto and digital assets? | Opinion
Top five blockchain analytics trends for 2025 | Opinion
Is there a crypto thaw in Russia and why?
African crypto revolution continues as Ethiopia ranks among global BTC mining leaders
Top 5 reasons why Ethereum could take off in 2025
Cardano co-founder explores Delimited continuations: What does it mean for Cardano?
The gaming industry can finally solve its biggest problem | Opinion
Crypto whales: Friends or foes?
2024’s loyalty overhaul: Blockchain’s promise for brands | Opinion
Bitcoin expectations for 2025 plus crypto updates from around the globe | Weekly Recap
Related News
Binance to launch GRIFFAIN, AI16Z and ZERE with 75x leverage
Binance achieves 250m users, setting sights on 1b in 2025
Bitcoin miner HIVE targets 150% growth by 2025-end after 47% YoY operational surge in 2024
Get crypto market analysis and curated news delivered right to your inbox every week.
You have successfully joined our subscriber list.
English 
Français