Binance Signs MoU to Buy Brazilian Securities Brokerage Sim;paul
Bloomberg
Published Mar 14, 2022 09:06AM ET
Updated Mar 14, 2022 09:27AM ET
Binance Signs MoU to Buy Brazilian Securities Brokerage Sim;paul
(Bloomberg) -- Binance Holdings Ltd. has signed a memorandum of understanding to buy Brazilian securities brokerage firm Sim;paul Investimentos.
Sim;paul is authorized by the Central Bank of Brazil and the Securities and Exchange Commission, Binance said in a statement. Any deal will require the approval of regulatory authorities, including the central bank.
Binance, the world’s largest cryptocurrency exchange by trading volume, is looking to buy businesses that operate in traditional markets, its CEO Changpeng Zhao said in an interview with the Financial Times this month. “The strategy is about making the crypto industry bigger,” Zhao told the paper.
Founded in China in 2017, Binance hasn’t set up a global base yet. In recent months, company executives have held talks with regulators in the UAE about a potential headquarters in the country, Bloomberg has previously reported.
©2022 Bloomberg L.P.
Get The News You Want
Written By: Bloomberg
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.