Crypto.com received a Payment Institution license in Brazil

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Crypto.com (CRO) has received a license from the Central Bank of Brazil to operate as a Payment Institution, as officially announced by the cryptocurrency exchange.

With this license, the exchange can continue to offer regulated national currency and cryptocurrency wallet services in Brazil, where we note that its card, the Crypto.com Visa, will be available from 2021.

Read Also: Crypto.com proves its customerโ€™s reserves

“Brazil and the entire Latin American market is an important region for pursuing our vision of having cryptocurrencies in every wallet,” said Crypto.com CEO Kris Marszalek.

Marcos Jarne, general manager and chief legal officer for Latin America at Crypto.com, added that “Latin America is a major driver in the adoption of cryptocurrencies and regulators have also played a key role in driving this.”

In November, Brazilian payment company CloudWalk was the first cryptocurrency company to receive a license to operate as a Payment Institution from the country’s central bank.

Crypto.com now becomes the first cryptocurrency exchange to receive such a license.

Read Also: Crypto.com CEO: โ€œOur balance sheet is extremely strongโ€

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