As a payment institution, MB Pay can offer Brazilian users certain digital banking services, including digital fixed income investments, staking, and other financial transactions.
Cryptocurrency exchange Mercado Bitcoin was granted a payment provider license from Brazil's central bank on June 2,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 certain digital banking services using crypto assets held on the exchange, such as investing in digital fixed income, staking, and other financial transactions. A debit card offering a crypto off-ramp for users is expected to go live soon.
Earlier this week, traditional local broker Guide Investimentos also announced a partnership with Mercado Bitcoin to enter the digital asset market.
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