Global payments platform Paysafe has received approval from the Central Bank of Brazil for a payment institution license.
The license allows Paysafe to expand its payment partnerships with iGaming operators in Brazil and support Brazilian merchants with eCommerce payments.
With a population of 212 million, Brazil is expected to become Latin America's largest regulated online sports-betting market.
Paysafe offers digital wallets, alternative payment methods, and supports eCommerce, travel, entertainment merchants, and digital content creators.