Binance has received approval from the Central Bank of Brazil to acquire Sim;paul, a regulated broker-dealer, further strengthening its position in Brazil. This acquisition makes Binance the first crypto exchange in Brazil to acquire a broker license, demonstrating its commitment to compliance and expanding its offerings. With this approval, Binance now holds its 21st compliance license globally, solidifying its leadership in regulated crypto activities.
The acquisition of Sim;paul allows Binance to offer localized and regulated services in Brazil. Sim;paul is approved to transfer stocks and create electronic money, providing Binance with the opportunity to cater to the growing interest in digital assets in Brazil. The proactive approach of organizations such as the Brazilian IRS and the Central Bank of Brazil has fueled this interest, as they have proposed systems to regulate cryptocurrency and sought public opinion to shape comprehensive regulations. The Brazilian Congress is also enacting laws on asset segregation and stablecoin regulation, highlighting the country’s commitment to creating a safe and open ecosystem.
Binance’s reputation for compliance and user-oriented solutions, coupled with its entrance as a licensed broker, is expected to foster more trust and participation in the local market. The signing of a Memorandum of Understanding (MoU) in March 2022 to explore the acquisition of Sim;paul demonstrates Binance’s strategic ambition to establish a strong presence in Brazil. The company’s emphasis on aligning its global operations with regional rules is a key pillar of its expansion plan.
Earlier, Binance Labs announced a rebranding project for 2025, focusing on investments in crypto, blockchain, artificial intelligence (AI), and biotechnology. In 2024 alone, Binance Labs made 46 investments in 46 projects, with 20% of the investments coming from its BND ecosystem. Additionally, Binance has utilized artificial intelligence and machine learning to combat fraud, blacklisting suspicious addresses, preventing dubious transactions, and recovering funds. The company’s proactive approach to crypto security and dedication to protecting the ecosystem is evident through the issuance of 15,000 daily alerts.
Overall, Binance’s acquisition of Sim;paul and its commitment to compliance and regulatory excellence further strengthen trust in Brazil’s growing crypto ecosystem.