Brazil’s largest cryptocurrency exchange, approved as a payment institution | coindesk JAPAN | Coindesk Japan

Mercado Bitcoin, Brazil’s largest crypto asset (virtual currency) exchange, received approval as a payment institution from the Central Bank of Brazil on June 2nd. Local newspaper Valor Economico reported.

The company is said to have been permitted to operate as a payment institution under the position of electronic money issuer.

Mercado Bitcoin CEO Roberto Dagnoni said in a statement: “The approval by the central bank is an important step that will allow us to continue our expansion plans to offer our customers a more complete experience.”

Mercado Bitcoin already operates a digital account, MB Pay, with more than 4 million users buying crypto assets, earning yields, and investing in other asset classes.

Dagnoni added that the company plans to offer financial services that combine the potential of crypto assets with traditional financial services.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Mercado Bitcoin CEO and 2TM Chairman Roberto D’Agnoni (2TM)
｜Original: Mercado Bitcoin, Brazil’s Largest Crypto Exchange, Receives License as a Payment Institution