According to a report from the Valor Economico newspaper, Mercado Bitcoin, the biggest bitcoin exchange in Brazil, was granted a license from the country’s central bank to function as a payment institution.
This authorization grants the company the ability to operate as an electronic money issuer within the realm of payment services.
In a statement, Roberto Dagnoni, the CEO of Mercado Bitcoin, expressed the significance of the central bank‘s approval, highlighting how it serves as a crucial milestone that enables the company to proceed with its business expansion strategies. Dagnoni emphasized that this development will facilitate the provision of an enhanced and comprehensive experience for their customers.
With its existing offering called MB Pay, Mercado Bitcoin currently provides a digital account that enables over four million users to purchase bitcoin and engage in investments across various asset classes, including digital fixed income.
Additionally, Dagnoni expressed that Mercado Bitcoin has intentions to introduce financial services that merge the capabilities of bitcoin with traditional financial services. Among their upcoming initiatives is the launch of a bitcoin payments card, which is slated to be made available in the forthcoming months.
Numerous regions in Brazil are grappling with financial challenges as a result of being underbanked or unbanked. These areas have captured the interest of the Bitcoin sector, which has the potential to revolutionize and integrate these populations into the global financial market.
The recent licensing of Mercado Bitcoin as a payment institution brings good news to Brazilian bitcoin users, providing them with a new licensed exchange that streamlines their Bitcoin transactions.
Furthermore, Dagnoni emphasized Mercado Bitcoin’s commitment to delivering financial services that leverage the potential of the Bitcoin industry in conjunction with traditional financial services.
