Mercado Bitcoin exchange secured a payment provider license from Brazil’s central bank.
Mercado Bitcoin is a Latin American crypto exchange. This exchange provides crypto assets trading against Brazilian Reals (BRL). This exchange was founded in 2013 by Gustavo Chamati & Mauricio Chamati.
On 2 June 2023, the Mercado Bitcoin exchange announced that the Brazilian central bank approved its application for payment services.
With this regulatory approval, this exchange will launch its payment solution MB Pay. This new payment service will help its customers to deal with fiat payment services easily across its crypto empire.
Mercado Bitcoin’s parent firm 2TM CEO Roberto Dagnoni said that the latest regulatory approval from the Brazilian central bank will allow 2TM to expand services at a better level & enhance customer experience.
Exchange’s MB Pay payment service was planned to launch in 2021 but faced huge delays because the firm failed to receive regulatory approval on time.
Recently in a court case, Bitcoin Marcado was ordered by the court to release 2,182 Bitcoin (worth $59.3 million at the time of writing) back to 4 people of the same family. Allegedly co-founder and former executive had withheld these funds in a fabricated hack in 2013.
Coinbase in Brazil
America’s top regulated crypto exchange is also expanding its services in Brazil. Recently this crypto firm established a partnership with a local payment service provider, to provide crypto trade in fiat pairs directly.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.