Binance said Wednesday that it has integrated its payment platform, Binance Pay, with Brazil’s widely used Pix system, enabling crypto-powered payments in Brazilian reais across the country.
Binance’s Payment Solution Integrates with Pix
The move is said to allow Binance users in Brazil to instantly convert over 100 cryptocurrencies into reais to pay merchants or transfer funds to any Pix-compatible account.
Transactions are completed within seconds, which Binance says helps to bring “crypto into everyday life and make it easier for users to spend digital assets in real-world transactions.”
“This is a significant milestone because it is the first time Binance Pay is integrated into a national payment system in the world,” said Guilherme Nazar, Binance’s regional vice president for Latin America. “It allows our users in Brazil to use their cryptocurrencies for payments at any commercial establishment and to anyone in the country.”
Pix, launched by the Central Bank of Brazil in 2020, is currently used by more than 174 million Brazilians and handles around 6 billion transactions monthly.
According to the central bank, 76.4% of the population uses Pix, surpassing cash and debit card usage.
Richard Teng, CEO of Binance, described the integration as “a revolutionary step forward,” combining Pix’s speed and accessibility with Binance’s global crypto infrastructure.
Brazil ranks sixth globally in cryptocurrency adoption, with 17.5% of its population owning digital assets.
A recent survey reportedly found that 42% of Brazilian investors already hold crypto, equal to those holding stocks or mutual funds.
