Binance has integrated its payment solution with Pix, Brazil’s instant payment system, allowing people to use Binance Pay and Pix for instant payments in the local currency using cryptocurrencies.
This integration is the first time Binance Pay has been integrated into a national payment system in the world, making cryptocurrencies more accessible and usable in everyday life for users in Brazil.
Users in Brazil can make instant transfers and payments from their Binance accounts to any bank account or pay merchants accepting Pix, with transactions completed in seconds and supporting more than 100 cryptocurrencies.
The rise of Pix in Brazil reflects a broader trend in Latin America towards digital payments, driven by the increasing use of mobile wallets and real-time payment systems, with cash rapidly losing ground as consumers shift to digital payments.