Coinbase Brings Its ‘Everything Exchange’ Pitch to Brazil as the Clock Ticks 🇧🇷

Coinbase has applied for authorization to operate as a crypto service provider in Brazil, submitting its application to the Central Bank of Brazil ahead of the country’s Friday license deadline. The US-based cryptocurrency exchange filed under Brazil’s virtual asset service provider (VASP) framework as new requirements take effect.

The application is intended to preserve Coinbase’s existing Brazilian operations while its submission is reviewed. It addresses requirements covering governance, customer asset safeguards and compliance. “We do not expect the application review to require a suspension of our existing services,” a Coinbase spokesperson told Cointelegraph.

Coinbase also reiterated plans to bring its “Everything Exchange” strategy to Brazil, with potential expansion into foreign exchange and payments alongside crypto services. Those activities would require separate regulatory authorizations.

Coinbase joins Binance, which applied for authorization on Oct. 23. The exchange has restricted crypto lending, margin trading and other services in Brazil while delisting 22 crypto assets to comply with the new rules. Existing crypto service providers in Brazil must apply for authorization by the end of October to continue operating under transitional arrangements, and those that apply by the deadline may operate while their applications are reviewed.