Brazilian Binance provider gets approval to function as a payment facility

Latam Gateway, payment provider, Binance in Brazil, has been given a licence by the country’s central bank. This license will permit Latam Gateway to function as a payment entity and electronic money issuer, as stated by Cointelegraph.

According to Cointelegraph, Latam Gateway assists foreign companies in Brazilian operations through giving ramps for Brazilian real. It’s believed that Binance and Latam Gateway have been in collaboration since July, 2022, post the ending of Binance-Capitual’s partnership in the country.

Based on Cointelegraph’s information, Brazil has been a hotspot for crypto companies.