Crypto exchange Crypto.com has secured a Payment Institution License (EMI) from the Central Bank of Brazil.
Crypto.com managed to secure the EMI license from Brazil’s central bank, as stated in an announcement made by the crypto exchange. The license will enable the company to keep offering law-abiding fiat wallet services to Brazilian users. Brazil is considered a very active market in Latin America’s crypto environment. With this move, Crypto.com has become the first crypto exchange licensed in Brazil. The comapany’s activity in the country has begun in November 2021 when Crypto.com announced its partnership with Visa to issue a card to users to perform purchases with local currency and their cryptocurrencies.
The company’s CEO considers Brazil and the whole Latin America market to be an important factor in fulfilling the company’s purpose of providing crypto to every wallet. The new licence provides the platform with more security, trust, and compliance. Crypto.com is looking forward to continuing the partnership with the authorities and regulators throughout LATAM to advance crypto and blockchain tech.
The company’s General Manager and Head of Legal for LATAM considers LATAM a key driver in adopting crypto and its regulators were key players in making this possible.
