Brazilian crypto exchange Mercado Bitcoin licensed as payment provider
As a payment institution,
MB Pay will enable certain digital banking services to the crypto exchange’s users in the country.
Cryptocurrency exchange
Mercado Bitcoin was granted a payment provider license from Brazil’s central bank on June 2, according to local media reports. With the license, the company will launch its fintech solution MB Pay.
“The approval of the Central Bank is a crucial step, as it allows us to continue expanding our business and providing a better service to our customers,” said
Roberto Dagnoni, CEO of 2TM, the parent company of
Mercado Bitcoin.
As a payment institution,
MB Pay can provide Brazilian users with specific digital banking services using crypto assets held on the exchange, such as digital fixed-income investments, staking and other financial transactions. A debit card offering a crypto off-ramp for users is expected to go live soon.
Previously, traditional local broker Guide Investimentos also announced a partnership with
Mercado Bitcoin to enter the digital asset market.
Mercado Bitcoin’s fintech rollout had been planned for 2021 but was delayed due to the regulator’s approval process.
