Key Takeaways:
- Binance Pay now supports instant crypto-to-fiat payments through Brazil’s national Pix system.
- Over 174 million Brazilians can use crypto for everyday transactions across Pix’s vast network.
- The integration strengthens crypto adoption in Brazil, the world’s sixth-largest crypto market.
Binance has integrated its payment service, Binance Pay, with Brazil’s Pix system, enabling real-time crypto-to-fiat payments for millions of users across Latin America’s largest economy.
The new feature allows Binance users in Brazil to instantly convert digital assets into Brazilian reais and make payments to any Pix-compatible bank account or merchant, the exchange said in a May 20 press release.
With support for over 100 cryptocurrencies, the integration brings digital currencies closer to daily use by embedding them into a payment network already trusted by over 174 million Brazilians.
Brazil’s Pix Used by 76.4% of Population
Pix, launched by Brazil’s Central Bank in 2020, has quickly overtaken traditional payment methods.
According to official figures, it is now used by 76.4% of the population, surpassing both cash and debit cards in popularity. The platform processes roughly 6 billion transactions monthly.
“This is a significant milestone for crypto adoption in Brazil,” said Guilherme Nazar, Binance’s regional vice president for Latin America.
“For the first time, Binance Pay is fully integrated into a national payment system. It allows users to spend crypto in the same seamless way they use Pix daily — quickly, safely, and without complications.”
Richard Teng, Binance’s CEO, called the move a “revolutionary step” that blends Brazil’s fast, government-developed Pix system with the global scale of Binance.
“This synergy empowers users with real-time transactions and drives financial inclusion to new heights,” Teng said.
Brazil ranks sixth globally in crypto adoption, with 17.5% of the population owning digital assets, according to Triple-A.
A recent survey by Instituto Locomotiva for Binance further revealed that 42% of Brazilian investors already hold crypto, a figure on par with more traditional assets like stocks and investment funds.
In April, Brazil made history by launching the world’s first exchange-traded fund (ETF) that tracks the spot price of XRP, Ripple’s native cryptocurrency.
Named Hashdex Nasdaq XRP Fundo de Índice (FI), the ETF is managed by Brazilian asset manager Hashdex and administered by Genial Investments Securities Brokerage SA, with Genial Bank SA serving as custodian.
Bhutan Taps Binance to Launch National Crypto Tourism Payment
In another development, Bhutan has partnered with Binance Pay and DK Bank to allow tourists to pay for nearly all travel-related expenses using cryptocurrency.
Tourists can now use digital assets to pay for flights, hotels, tours, visa fees, and even roadside purchases.
The system, powered by Binance’s app, supports over 100 cryptocurrencies and enables real-time transactions via QR codes.
Payments are instantly settled in local currency by DK Bank, eliminating the need for traditional banking systems, currency exchanges, or international cards—making travel more seamless and affordable for foreign visitors.
More than 100 Bhutanese merchants, including rural artisans and small vendors, have joined the system, allowing even remote businesses to accept crypto payments through a simple smartphone.
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