Binance to reposition in Brazil, Zhao Changpeng meets with the Governor of São Paulo, considering acquiring local banks, payment processors, and establishing headquarters

Binance's global expansion is still in full swing. Recently, it was granted a license as a crypto service provider in Dubai and licensed by the Central Bank of the Middle Eastern country "Bahrain." Founder Changpeng Zhao also revealed that they are considering acquiring banks and payment service providers in Brazil.

According to local media "InfoMoney" report, Zhao Changpeng CZ mentioned at the Ethereum Rio summit that Binance is considering several acquisitions in Brazil, including banks and payment service providers, with the intention of integrating their financial services into the crypto platform.

Previously on 3/14, Binance also announced the signing of a memorandum to acquire the Brazilian securities brokerage firm "Sim;paul Investimentos," currently awaiting regulatory approval. CZ emphasized the desire to expand the existing Brazilian team of about 100 people, stating:

We hope to promote the development of the crypto industry in a healthy and collaborative manner, while also incubating more participants in the crypto industry, such as wallets and payment services, to assist entrepreneurs, NFT creators, game developers, and participants in the e-commerce sector.

During his visit to Brazil, CZ also met with regulatory agencies and political figures, and he posted a photo with the Governor of São Paulo, João Doria, on Twitter. CZ also seemed to hint at some reflections on this trip:

When people know you through the news, they are skeptical of you, but when they talk to you face to face, they like you.

It is reported that Binance is considering establishing its headquarters in São Paulo or Rio de Janeiro, and Brazil will become another strategic market for expanding global business in Latin America, following Dubai in the Middle East in the layout of Binance's global presence.