Mercado Bitcoin Licensed as Payment Institution

Brazil’s largest cryptocurrency exchange Mercado Bitcoin has received a license from the country’s authority as a payment institution.

Brazil’s largest cryptocurrency exchange, Mercado Bitcoin, plans to combine the potential of cryptocurrencies with traditional financial services by obtaining a license by the Brazilian central bank as a payment institution.

Mercado Bitcoin Gets License from Central Bank as Payment Institution

Brazil’s largest cryptocurrency exchange Mercado Bitcoin has been licensed by the Brazilian central bank as a payment institution. The exchange plans to combine the potential of cryptocurrencies with traditional financial services. Thus, the company will be able to operate as a payment institution with the status of an electronic money issuer.

Mercado Bitcoin CEO Roberto Dagnoni stated that the central bank’s license approval is an important step in continuing its business expansion plans. Currently serving over four million users, Mercado Bitcoin is developing MB Pay, a digital account where users can buy cryptocurrencies and invest in digital fixed incomes and different asset classes.

Dagnoni also stated that the exchange plans to offer financial services that combine the potential of cryptocurrencies with traditional financial services. This is a step towards widespread adoption of cryptocurrencies and enabling more users to access financial solutions.