Brazil Grants Payment License to Mercado Bitcoin Exchange
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Brazil’s central bank approved Mercado Bitcoin as a payment service provider. This empowered the firm to launch “MB Pay”, a financial technology platform offering clients digital banking with cryptographic assets. MB Pay facilitates investment in digital fixed income and the staking of cryptocurrencies, giving access to financial transactions—the firm plans to use a debit card for converting digital currency into fiat currency. Brazil’s top crypto exchange ‘Mercado’ has 3 million customers and a $5B trading volume. The license is a milestone for Mercado Bitcoin and the Brazilian crypto industry.
