Binance Pay has now connected with Brazil's rapidly growing money transfer system Pix, which was developed by the Central Bank of Brazil. Following this integration, Brazilian users can now convert their cryptocurrency into Brazilian Real and make instant payments via Pix. This way, digital assets are becoming a part of everyday life.
Why Pix?
Pix is not only popular but also ubiquitous. Since its launch in 2020, this instant payment system has transformed the way money is transferred in Brazil. Today, over 174 million individuals and businesses rely on it, enabling nearly 6 billion transactions each month. According to the Central Bank of Brazil, more than 76% of the population uses Pix, which is even more than debit cards (68.9%) or cash (69.1%).
Now, through Binance Pay, users can choose from over 100 supported cryptocurrencies, convert it instantly into Brazilian Real, and make payments in just a few seconds, all possible from within the Binance app.
This advancement shows that cryptocurrency is no longer just an investment; it is becoming part of everyday financial life.
