Crypto exchange Binance has opened up two offices in Brazil.
Changpeng Zhao’s firm is looking to tap the Brazil’s emerging crypto market which boasts of more than 34.5 million crypto users.
Binance now has two offices in São Paulo and Rio de Janeiro, with more than 150 employees to be spread across the firm’s operations in Brazil.
Binance stated that it has been working on a Brazilian expansion since In March.
In September, Binance also hosted a series of crypto and blockchain workshops for law enforcement agencies in Brazil and Argentina to help them identify and fight crypto crime, suggesting it may hold a decent relationship with Latin American regulators.
On Monday, Binance announced on Monday that it had signed a memorandum of understanding (MoU) with the Financial Monitoring Agency of Kazakhstan as a part of its global law enforcement training program.
On Sept. 29, Binance also announced that it had registered with New Zealand’s Ministry of Business, Innovation and Employment and opened local offices in the country.