Latam Gateway, the payment provider for Binance in Brazil, has received a license from the country's central bank to operate as a payment institution and electronic money issuer.

Binance considers Brazil to be one of its top global markets and Latam Gateway helps foreign companies to operate in Brazil by providing on/off ramps with the Brazilian real.

Binance and Latam Gateway have been partners since June 2022, following the termination of Binance-Capitual's collaboration in the country. Other crypto companies, such as Coinbase, are also expanding their operations in Brazil, but regulatory authorities are paying close attention to their activities.