Binance signed a memorandum of understanding (MOU) to potentally acquire Brazilian securities brokerage Sim;Paul Investimentos.
Binance has inked a memorandum of understanding to potentially acquire Brazilian securities brokerage Sim;paul Investimentos, the crypto exchange announced on Monday.
The firm said that it would"explore the acquisition" of Sim;Paul under the MOU, with the aim of further developing Brazil's cryptocurrency and blockchain ecosystem. In an announcement statement, Binance underscored that Sim;paul is authorized by Brazil's central bank and its securities exchange commission . The transaction would require approval from Brazilian regulators, including the central bank. The companies did not disclose any timeframe for closing a possible deal.