Binance has opened up two offices in Brazil as the firm looks to tap the country’s emerging crypto market, with reportedly more than 34.5 million crypto users there.
According to an announcement, Binance has now opened offices in São Paulo and Rio de Janeiro, with more than 150 employees to be spread across the firm’s operations in Brazil.
The exchange operates in full compliance with the Brazilian regulatory landscape and believes that regulation is the only way for the digital asset industry to grow and reach the general public, allowing more people to enjoy the benefits that cryptocurrencies and blockchain offer,” the announcement reads.
Binance stated that it has been working on a Brazilian expansion since CZ initially visited in March, with the firm doubling the size of its team focused on the country since then.
In September, Binance also hosted a series of crypto and blockchain workshops for law enforcement agencies in Brazil and Argentina to help them identify and fight crypto crime, suggesting it may hold a decent relationship with Latin American regulators.
