- Employees will have the option of doing their jobs from home or these locations.
- The company said in March that it would acquire Sim; Paul Investimentos.
The global cryptocurrency exchange community is increasingly focusing on Latin American countries such as Brazil as a result of the strong cryptocurrency market in the region. Binance, the world’s largest cryptocurrency exchange, has revealed plans to expand in the country with two new offices. However, it has been reported that employees will have the option of doing their jobs from home or one of these locations.
The two new locations, one each in Rio de Janeiro and Sao Paulo, are being promoted as co-working facilities with the aim of accommodating Binance’s growing workforce in Brazil. There were only 60 workers at the beginning of the year, but that number has already risen to more than 150.
Focus on regulations
While the cryptocurrency exchange has had trouble complying with local regulations in the past, current efforts are focused on Brazil. In this regard, the company announced in March the signing of a Memorandum of Understanding with Yes, Paul Investimentos To become a licensed payment institution in Brazil, a move that is currently being reviewed by the country’s central bank.
Matthew Schroeder, Global Vice President and Regional Director at Binance, said:
“We are taking proactive measures to ensure that even before the new regulations come into effect, we meet the basic requirements to operate as a crypto exchange.”
Due to the upcoming general elections in October, the Brazilian crypto law, which was introduced last year, has yet to be examined by Congress. Shroder has also given hints about the imminent release of Master Card Credit Card A product that would allow Brazilians to use a debit card to buy cryptocurrency, just like the one that was issued a month ago in Argentina.
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