Binance has received approval from the Central Bank of Brazil to acquire Sim;paul, a regulated broker-dealer, thereby strengthening its position in Brazil. This acquisition makes Binance the first crypto exchange in Brazil to obtain a broker license, demonstrating its commitment to compliance and expanding its offerings. Binance now holds its 21st compliance license globally, further solidifying its leadership in regulated crypto activities.
Binance’s acquisition of Sim;paul allows it to provide localized and regulated services in Brazil. Sim;paul is approved to transfer stocks and create electronic money. Brazil, currently ranked 10th in the Global Crypto Adoption Index, has witnessed growing interest in digital assets due to the proactive approach of organizations such as the Brazilian IRS and the Central Bank of Brazil. These organizations have proposed systems to regulate cryptocurrencies and sought public opinion to shape comprehensive regulation. The Brazilian Congress is also adopting laws on asset segregation and stablecoin regulation, reflecting the country’s forward-looking stance in creating a secure and open ecosystem.
Binance’s reputation for compliance and user-oriented solutions, coupled with its entrance as a licensed broker, is expected to inspire greater trust and participation in the local market. In March 2022, Binance signed a Memorandum of Understanding (MoU) to explore the acquisition of Sim;paul, highlighting its strategic ambition to establish a strong presence in Brazil. This move aligns with Binance’s expansion plan of adhering to regional regulations alongside its global operations.
Earlier, Binance Labs announced a rebranding project for 2025, focusing its investment on 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 47,000 suspicious addresses, halting questionable transactions, and recovering $9 million monthly. These proactive measures, including sending 15,000 daily alerts, demonstrate Binance’s dedication to crypto security and protecting the ecosystem.