Crypto exchange Binance has just announced it has opened two offices in Brazil (São Paulo and Rio de Janeiro) to expand its activities in the country.
According to the statement shared by the platform:
"The exchange operates in full compliance with the Brazilian regulatory framework and believes that regulation is the only way the digital asset industry can grow and reach a wider audience."
According to the company, Binance has been focused on scaling operations in Brazil since March, when its CEO Changpeng Zhao visited the country for the first time. The São Paulo and Rio de Janeiro offices will have more than 150 employees.
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Binance has previously registered as a financial services provider in New Zealand and opened a local branch.
The authorities of Bahrain, Dubai and the Abu Dhabi Financial Free Zone have approved the exchange's operations in their territories. The platform has also announced the launch of a regulated exchange in Thailand and the opening of a customer service center in Turkey.