<\/p>\n
Changpeng \u201cCZ\u201d Zhao-led crypto exchange Binance has opened up two offices in Brazil as the firm looks to tap the country\u2019s emerging crypto market, with reportedly more than 34.5 million crypto users there.<\/p>\n
According to an Oct. 3 announcement, Binance has now opened offices in S\u00e3o Paulo and Rio de Janeiro, with more than 150 employees to be spread across the firm\u2019s operations in Brazil. <\/p>\n
\u201cThe exchange operates in full compliance with the Brazilian regulatory landscape and believes that regulation is the only way for the digital asset industry to grow and reach the general public, allowing more people to enjoy the benefits that cryptocurrencies and blockchain offer,\u201d the announcement reads. <\/p>\n
\n#Binance<\/a> opens two offices in Brazil in a move to expand in the country and to grow crypto adoption in Latin America.<\/p>\n
The offices were announced by @cz_binance<\/a>, who visited the country in March this year. Since then, we have more than doubled the team dedicated to Brazil.<\/p>\n
\u2014 Binance (@binance) October 3, 2022<\/a><\/p><\/blockquote>\n
Binance stated that it has been working on a Brazilian expansion since CZ initially visited in March, with the firm doubling the size of its team focused on the country since then. <\/p>\n
In September, Binance also hosted<\/a> a series of crypto and blockchain workshops for law enforcement agencies in Brazil and Argentina to help them identify and fight crypto crime, suggesting it may hold a decent relationship with Latin American regulators. <\/p>\n
The company has notably upped its focus on working with regulators after a spate of regulatory reviews and investigations from several government agencies in 2021. <\/p>\n
Brazil looks to be a market prime for further growth, with blockchain research firm Chainalysis recently ranking the country seventh on the 2022 Global Crypto Adoption Index report. <\/p>\n
The firm ranked Brazil just two places behind the United States and five places ahead of its Latin-American counterpart Argentina. <\/p>\n
Binance expansion<\/h3>\n
In what has been a productive week for the company, Binance also announced on Monday that it had signed a memorandum of understanding (MoU) with the Financial Monitoring Agency of Kazakhstan as a part of its global law enforcement training program.<\/p>\n
Under the MoU, Binance will work with the local government to help identify and block digital assets obtained illegally and used to launder criminal proceeds and finance terrorism.<\/p>\n
Related: <\/em><\/strong>Binance Global Law Enforcement Training Program is official after year of activities<\/em><\/strong><\/p>\n
On Sept. 29, Binance also announced that it had registered with New Zealand\u2019s Ministry of Business, Innovation and Employment and opened local offices in the country. <\/p>\n
\u201cNew Zealand is an exciting market with a strong history of fintech innovation,\u201d CZ said. <\/p>\n
\nLast 48 hrs or so:<\/p>\n
CZ (me) in some mountain in Africa, preaching crypto#Binance<\/a> opens 2 offices in Brazil #Binance<\/a> signs MOU with Kazakhstan #Binance<\/a> burns $1.8m worth of LUNC from Binance’s income.<\/p>\n
\u2014 CZ Binance (@cz_binance) October 3, 2022<\/a><\/p><\/blockquote>\n<\/div>\n