Binance has announced a groundbreaking integration of its crypto payment platform, Binance Pay, with Brazil’s national Pix instant payment system. This development enables Binance users in Brazil to make real-time payments in Brazilian reais by instantly converting over 100 supported cryptocurrencies. The integration positions Binance as the first global exchange to directly connect with a national payment infrastructure, significantly bridging digital assets with mainstream financial systems in Latin America’s largest economy.
Pix, launched by Brazil’s Central Bank in 2020, is the dominant payment method in the country, trusted and utilized by over 174 million Brazilians (around 76.4% of the population). It processes roughly 6 billion transactions monthly, having surpassed cash and debit card usage. With Binance Pay’s integration, Brazilian users can now seamlessly transfer crypto funds or pay merchants at any Pix-compatible bank account across Brazil, replicating the simplicity and speed of traditional Pix payments.
Richard Teng, CEO of Binance, referred to the integration as a revolutionary step that combines the global innovation of Binance with the fast, government-backed Pix system. Guilherme Nazar, Binance’s Regional Vice President for Latin America, emphasized that this milestone will make cryptocurrency payments more accessible, quick, safe, and intuitive for Brazilians already familiar with Pix.
Brazil ranks sixth worldwide in crypto adoption, with approximately 17.5% of its population owning digital assets. A recent survey by Instituto Locomotiva for Binance found that 42% of Brazilian investors hold cryptocurrencies, comparable to traditional investment assets like stocks and funds. This integration underscores Binance’s commitment to customizing services for local markets and reflects a broader push toward cryptocurrency mainstream adoption.
In a related development, Bhutan has partnered with Binance Pay and DK Bank to launch a national crypto tourism payment system, allowing travelers to pay for flights, hotels, tours, and more using crypto. This initiative aims to make travel payments seamless and accessible via over 100 cryptocurrencies with instant local currency settlements.