The company intends to offer financial products that combine crypto-currency with traditional financial services.

The central bank of Brazil licensed Mercado Bitcoin as a payment institution on Friday, the newspaper Valor Economico reported.

The company can now operate as a Payment Institution, with the status of a electronic money issuer.

Roberto Dagnoni said that the central bank’s approval was an important step. It allows us to carry on with our expansion plans and offer a more complete experience to customers.

Mercado Bitcoin operates MB Pay already, a digital wallet through which over four million users are able to buy cryptocurrencies as well as invest in digital fixed-income and other asset classes.

Dagnoni said that the exchange will offer financial services that combine crypto’s potential with traditional financial products, including a crypto payment card that is planned for the next few months.