In order to describe its activities in Brazil, Binance disclosed that it employs over 150 workers, and it also looks like it is in good shape with both the local regulatory and government bodies.
The booming crypto industry in Brazil, which itself is estimated to have more over 34.5 mn crypto users, has seen the opening of different offices by the cryptocurrency exchanges, Binance.
An statement made on October 3 states that Binance now has established offices in Rio De Jeniro and Sao Paolo with much more than a hundred and fifty staff members working throughout the company’s Brazilian businesses.
Since Changpeng “CZ” Zhao, the CEO of the crypto exchange, crypto exchange made his debut trip to Brazil in March, the company has reportedly been focusing on their business expansion in Brazil, double the workforce there.
To aid them in identifying and combating cryptocurrency crime, police departments in Argentina and Brazil attended a seminar series sponsored by Binance in September. This may indicate that the crypto exchange, Binance has a good relationship with South American authorities.
Binance Is Doubling Their Workforce In Latin America:
After a flurry of regulatory assessments and inquiries from different agencies run by the government in 2021, the corporation has noticeably increased its attention on cooperating with authorities.
Brazil appears to be a market poised for future expansion, as seen by the latest rating of the nation by blockchain research company Chainalysis at number seven upon that Global Crypto Adoption Index study conducted by them last year.
Brazil was rated just two spots below America and mutiple spots ahead of another country in South America which is Argentina.
Binance also said on 3rd October that it has signed a partnership agreement with the Financial Monitoring Agency of Kazakhstan as component of the worldwide training for law programme, capping off a successful week for the business.