KuCoin Pay has built-in with Pix, Brazil’s central bank-run immediate funds community, permitting customers to transform and spend cryptocurrencies at any service provider that accepts Pix QR codes.
The launch faucets into one of many world’s largest crypto consumer bases, with roughly 26 million Brazilians, about 12% of the inhabitants, now utilizing digital belongings, in response to a Friday announcement from the trade.
The mixing helps immediate crypto-to-Brazilian foreign money conversions (Brazil’s foreign money is the true), enabling customers to switch funds from KuCoin accounts to any Brazilian financial institution or pay retailers instantly by Pix. It additionally options multi-functional pockets instruments for managing each cryptocurrencies and fiat currencies throughout the KuCoin app.
Pix, an immediate funds system launched in 2020 and run by the Central Financial institution of Brazil, serves greater than 175 million customers.
KuCoin Pay, the cost arm of the cryptocurrency trade KuCoin, is a service provider instrument that enables companies to simply accept cryptocurrencies for on-line and in-person transactions. In keeping with CoinMarketCap, KuCoin ranks because the eighth-largest crypto trade on the planet, with greater than $6.2 billion in spot buying and selling quantity.
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Brazil leads LATAM in crypto adoption
An October report from Chainalysis mentioned that Brazil accounts for practically a 3rd of all crypto exercise in Latin America, with about $318.8 billion in transaction quantity from July 2024 to June 2025. The excessive fee of adoption within the nation has attracted a wave of latest initiatives from native and overseas corporations.
In September, Brazil’s largest personal asset supervisor, Itaú Asset Administration, established a crypto division and named former Hashdex government João Marco Braga da Cunha to move it. The corporate oversees greater than 1 trillion reais ($186 billion) in shopper belongings.
In October, Crown, a São Paulo fintech, raised $8.1 million to launch BRLV, a Brazilian actual–denominated stablecoin aimed toward giving establishments simpler entry to Brazil’s high-yield fixed-income market.
On Nov. 3, Brazilian digital financial institution Banco Inter accomplished a blockchain-based commerce finance pilot with Chainlink, the Central Financial institution of Brazil and the Hong Kong Financial Authority. The pilot demonstrated how blockchain might streamline cross-border transactions.
On Wednesday, Coinbase mentioned it’s bringing its “DeFi Mullet” decentralized buying and selling characteristic to the nation, giving native customers entry to tens of 1000’s of tokens with out leaving the Coinbase app.
Nonetheless, some uncertainty persists on the regulatory entrance. In June, Brazil overhauled its tax guidelines, changing its progressive system with a flat 17.5% levy on all crypto capital good points.
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