More high-quality primary market projects at home and abroad, sharing information on advantageous potential currencies every day, welcome to pay attention to exchanges and discussions"
Binance is a global leader in cryptocurrencies and blockchain platforms, and its growth potential is relentless.
To further develop and expand Brazil's cryptocurrency and blockchain ecosystem, the cryptocurrency exchange giant signed a memorandum of understanding to explore and possibly acquire Brazilian securities brokerage firm Sim; paul Investimentos。
The transaction has been authorized by the Brazilian regulator, the Brazilian Central Bank and the Securities and Exchange Commission (CVM). However, the company did not disclose a timeline for the acquisition.
Zhao Changpeng, founder and CEO of Binance, said:
"In such a fast-moving market as Brazil, crypto can transform and facilitate people's lives, so we believe – in full cooperation with local authorities – binance can make a big contribution to the development of Brazilian communities and ecosystems."
Previously, Binance faced regulatory scrutiny in Brazil.
This discord arose after the platform suspended futures market services on its Brazilian website last year, as central banks have yet to treat virtual currencies as financial assets.
Later, an alert report from the CVM said Binance Futures was one of three entities that were not registered to operate on the Brazilian securities market at the time.
Rodrigo Monteiro, executive director of the ABCripto Association, which signed the complaint, said the products and services offered "show a worrying disregard for Brazilian rules" and put the credibility of investors and regulators at risk.
Binance said in a statement that it was the target of "baseless and incorrect" allegations and that the claims in the complaint were "anti-competitive in nature."
In an interview with the Financial Times, Zhao explained that as Binance tries to patch up ties with the South American home, it now aims to roll out expansion policies in new and traditional markets and sectors to sustain its future business growth.
"We want to identify and invest in one or two goals in each area of the economy and try to bring them into the crypto space," Zhao added.
Sim; Founded in 2019, paul is a newer securities brokerage firm, approved by the central bank in October 2020 and launched its services in December 2020, based in Porto Alegre, Brazil.
Last month, the exchange revealed that it had invested $200 million in international media company Forbes with the aim of pushing the company's digital offer.
Nagawa Investment Research Institute is committed to discovering, investing in and incubating more projects with potential value, so as to promote the progress of the empowerment industry and the landing of applications, further establish an investment ecology, comprehensively unite resources in various fields, and help projects develop better, if you like to study some soaring currencies and potential primary market projects, welcome to follow me.