The largest crypto exchange in the world ‘Binance’ has made yet another announcement about its business expansion.
This time, Binance is opening up its business offices in Brazil. The cryptocurrency exchange is eager to gain international recognition and compete with major crypto exchanges in the Latin American region.
Binance Expands to Brazil
Binance is now aiming to gain more ground in the Latin American region and there is no other country more welcoming in the region than Brazil for the exchange.
Brazil has a population of over 200 million, making it the top choice in the region when it comes to building a strong and high user base.
The country has more than 10 million people who already have experience dealing in cryptocurrencies, be it investments, trades, or holdings.
Offices in Brazil
The officials have confirmed they have opened up two new offices in Brazil for their exchange. They have opened one office in Rio de Janeiro and the other office in Sao Paulo.
Binance also took it to Twitter to celebrate the opening of their new offices in the mentioned cities. It was confirmed that Binance has an entire business plan and design built around the Latin American region.
The exchange is aiming to open up its offices and offer services in as many Latin American areas as possible. Their goal is to build a very strong customer base in the Latin American region so that cryptocurrency adoption rises tremendously in the country.
CZ had Confirmed Office Openings in Brazil
It was back in the month of March when the founder and CEO of Binance, Changpeng Zhao (popularly known as CZ) visited Brazil.
While at the visit, CZ mentioned that they have plans of opening up new offices in the country and increase their market influence.
Ever since CZ’s announcement, Binance has continued expanding and its teams have continued growing. As per CZ, their workforce has doubled since he visited Brazil, so it became necessary to open up new offices.
However, they have opened their offices very strategically, situating them in very important areas of the region.
Brazil is Promising
Brazil has emerged as one of the most welcoming and enthusiastic countries on the map of the cryptocurrency industry.
The country has continued gaining more and more exposure in the cryptocurrency industry. The country now ranks as the 7th largest state in terms of cryptocurrency adoption.
Brazil is not the only South American country with exposure to cryptocurrencies. Other countries such as Ecuador, Colombia, and Argentina are also very welcoming of cryptocurrencies.
These three countries are also ranked among the list of top 20 countries in terms of crypto adoption.
