Binance, one of the biggest crypto exchanges by volume traded, has expanded to Brazil in part of its expansion plans. The exchange will open two offices in the country and hire more than 150 employees.
They will be given the option to either work from home or on site.
Binance is also planning to launch its crypto debit card in Brazil. However, the Binance debit card will not be linked to a mobile banking app similar to current banking apps but through a crypto wallet.
While Binance has been affected by compliance issues with local laws in several countries before, the exchange is currently making efforts to achieve compliance in Brazil.
“We are being proactive to ensure that even before the new regulations go into effect, we meet the prerequisites to operate as a crypto exchange,” according to Matthew Shroder, Global Vice President at Binance.