Mercado Bitcoin, Brazil's largest crypto exchange, was licensed as a payment institution by Brazil's central bank on Friday, Valor Economico newspaper reported. The company is now authorized to operate as a payment institution, under the status of an electronic money issuer. The company plans to offer financial services that combine the potential of crypto with traditional financial services.

"The central bank's approval is an important step, as it allows us to continue with our business expansion plans to offer an even more complete experience to our customers," Roberto Dagnoni, CEO of Mercado Bitcoin, said in a statement.

https://www.coindesk.com/business/2023/06/02/mercado-bitcoin-brazils-largest-crypto-exchange-receives-license-as-a-payment-institution/