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Crypto.com Has Secured Payment Institution License In Brazil

The Central Bank of Brazil has granted Crypto.com a Payment Institution License (EMI).

This license will allow the exchange to continue providing regulated fiat wallet services to Brazilian consumers. The Crypto.com Visa Card has been accessible in Brazil since November 2021, allowing clients to make purchases using both local money and cryptos.

Kris Marszalek, CEO of Crypto.com, stated:

“Brazil and the entire LATAM market is a significant region in the pursuit of our vision of cryptocurrency in every wallet. We are incredibly proud to secure the license in Brazil, allowing us to lead as a safe, secure, and compliant platform. We look forward to continuing working with regulators and authorities throughout the region in advancing cryptocurrency and blockchain technology.”

Marcos Jarne, General Manager and Head of Legal, LATAM of Crypto.com, said:

“Latin America is a major driver in crypto adoption and regulators have also been playing a key role to foster this.”

Previously, Crypto.com has received in-principle approval of its Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) and regulatory approval as a Digital Asset Service Provider by the Autorité des marchés financiers (AMF) in France.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.