The largest cryptocurrency platform in the world, Binance, announced at the end of Tuesday that it has integrated its payment system with Pix, allowing payments in reais through digital currencies and money transfers in Brazil.
The company stated in a press release that, with the integration, Binance users in Brazil will be able to make payments and transfers directly from their accounts on the cryptocurrency platform "to any checking account or establishment" that accepts Pix.
"This is the first time that Binance Pay has been integrated with a national payment system in the world," said Guilherme Nazar, vice president of Binance for Latin America, in the statement. "This launch makes cryptocurrencies more accessible and useful in everyday life," he added.
According to Binance, Brazil is the sixth largest market in cryptocurrency adoption in the world, with about 17.5% of the population already owning some type of digital asset. The platform also cited a study developed at its request that states that 42% of investors in Brazil already have exposure to digital assets, a percentage that is equal to those who own investment funds and stocks.
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I believe it may be stable but not dominant compared to the real
Lascado
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Will Drex replace the Real in Brazil?
You may have already heard about the "new Brazilian currency," Drex. Understand what this currency is, what its function is, and whether it will replace the real in the market. And without making much suspense, we will answer the question of the article: no, Drex will not replace the real. In fact, Drex IS the real, the official currency of Brazil, just in digital format, having the same value and acceptance as the real. In fact, Drex is being developed by the Central Bank (BC). Although it is a digital currency and uses blockchain, Drex, as it can only be issued by the Central Bank, is not classified as a cryptocurrency, but as a Central Bank Digital Currency (CBDC).
it's logical that the trend is really for banks to dominate
Rosendo Celedon NP96
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#MastercardStablecoinCards Dude, the game is changing. Mastercard has stepped on the gas and is now launching cards with stablecoin. Yes, my friend, the same brand that’s on your everyday card is now getting fully involved in the crypto scene. And this is much deeper than it seems. Do you know what it means to be able to pay with USDC or USDT directly from your wallet, without converting to fiat currency? It means that the gap between the crypto world and the real world is getting smaller. That talk of "you can’t use crypto in everyday life" is falling apart. But... it also raises a yellow flag. Because these integrations with big techs and traditional banks usually come with KYC, hidden fees, and the famous digital surveillance. The freedom we have today can disappear quickly if we let these guys dominate the everyday use of stablecoins. So, is it progress? Yes. But it’s good to stay alert. Because the future of crypto could end up just being another product of the banks — and that’s not what this ecosystem was born for, right?
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