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Mercado Bitcoin Crypto Exchange Brazil Granted License as a Payment Institution

Mercado Bitcoin Crypto Exchange
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With the newly acquired license, Mercado Bitcoin intends to provide a unique blend of crypto-powered financial services alongside traditional financial offerings, capitalizing on the vast potential of both domains.

According to a report by Valor Economico newspaper, Brazil’s central bank granted a payment institution license to Mercado Bitcoin, the largest cryptocurrency exchange in the country, on Friday.

Having obtained authorization as an electronic money issuer, the company is now empowered to operate as a payment institution.

Roberto Dagnoni, CEO of Mercado Bitcoin, expressed in a statement the significance of the central bank’s approval, highlighting that it paves the way for the company to pursue its business expansion strategies and deliver an enhanced and comprehensive experience to its valued customers.

Through MB Pay, Mercado Bitcoin presently operates a digital account that caters to over four million users, providing them with the capability to purchase cryptocurrencies, invest in digital fixed income, and explore diverse asset classes.

In addition, Dagnoni revealed that Mercado Bitcoin has intentions to introduce a range of financial services that leverage the potential of cryptocurrency in conjunction with traditional financial services. One of the forthcoming offerings includes a crypto payments card, which is expected to be launched in the coming months.

Also Read This Related: Brazil’s Central Bank Picks 14 Participants for CBDC Pilot

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Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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