Binance, helmed by Changpeng “CZ” Zhao, has launched two offices in Brazil in order to leverage the country’s burgeoning crypto industry, which has more than 34.5 million crypto users, as reported by Cointelegraph.
Binance has already built offices in So Paulo and Rio de Janeiro, according to an Oct. 3 release, with more than 150 people split across the firm’s activities in Brazil.
“The exchange operates in full compliance with the Brazilian regulatory landscape and believes that regulation is the only way for the digital asset industry to grow and reach the general public, allowing more people to benefit from the benefits that cryptocurrencies and blockchain offer,” according to the announcement.
Binance noted that it has been working on a Brazilian expansion since CZ’s initial visit in March, and that it has since doubled the size of its team focusing on the nation. Binance also organised a series of crypto and blockchain workshops in September for law enforcement agencies in Brazil and Argentina to help them identify and combat crypto crime, indicating that it has a good connection with Latin American regulators, Cointelegraph stated.
Binance also announced on September 29 that it had registered with New Zealand’s Ministry of Business, Innovation, and Employment and had created local offices there.
(With insights from Cointelegraph)