Brazilian Crypto Exchange Mercado Bitcoin Receives Payment Institution License from the Central Bank

Mercado Bitcoin, Brazil's largest cryptocurrency exchange, has received a payment institution license from the country's central bank on Friday, Brazilian newspaper Valor Economico reported.

The company is operating as an electronic money issuer and is also authorized as a payment institution.

"The central bank's approval is an important step, as it allows us to continue with our business expansion plans to offer an even more complete experience to our customers," Roberto Dagnoni, CEO of Mercado Bitcoin, said in a statement.

Mercado Bitcoin operates the digital account MB Pay, through which more than four million users buy cryptocurrencies and use them to invest in digital fixed income and different asset classes.

Dagnoni added that the exchange also plans to offer financial services that combine the potential of cryptocurrencies with traditional financial services, including the launch of a crypto payment card in the next few months.

(Source: CoinDesk)