The Pix system of the Brazilian Central Bank has been introduced as a payment option by Ramp Network, a business that provides payment infrastructure to link cryptocurrency and traditional finance.
In July, Ramp created a local entity in the South American nation as part of its effort to expand farther throughout Latin America. Adding Pix expands on that expansion.
Pix created the Central Bank of Brazil (BCB) in 2021 as a way for people, companies, and governments to transmit payments in a matter of seconds. Over 70% of Brazilians use the system, according to Ramp’s recent email announcement
Ramp will now be able to provide Brazilian users with a quick and easy option to buy cryptocurrency thanks to the connection.
With the launch of operations by big corporations like Coinbase and Bitget, both of which have integrated with Pix, in Brazil over the past year, the country has emerged as a regional hotspot for cryptocurrencies.