Coinbase is expanding to Brazil and supports the PIX payment system of the central bank

Coinbase is expanding to Brazil and supports the PIX payment system of the central bank

The Brazilian market welcomes Coinbase, the latest global crypto exchange, which is enthusiastic and ready to compete with other established giants such as Binance, Mercado Pago and Nubank, who have been active in Brazil for years and have a huge number of users.

On March 21, Coinbase, the cryptocurrency exchange based in the USA, announced its expansion to Brazil through a number of updates that will optimize the user transactions.

According to the announcement, the company's goal is to make cryptocurrencies accessible to all Brazilians and at the same time ensure the security of its customers' assets.

3/ In order to support the goal of Great Britain, to become a global crypto center, today we have presented the key principles that we believe that they will help realize the inspiring goal "global Britain". More here 👇https: //t.co/qvbxygfhu2

- nana murugesan (@nanamurugesan) 15. March 2023

BEM-Vindos, Coinbase

to achieve his goals, Coinbase stated that it integrates into Brazil's instant payment system "Pix", which, according to the Brazilian banking association (Febraban), has become the most widespread by its citizens.

"Firstly, thanks to our integration with PIX, a well-known immediate payment platform, which is created and managed by the Brazilian Central Bank, we have made it easy to recharge your coinbase account with Brazilian."

PIX is a payment system that essentially offers a user experience similar to a cryptocurrency transaction. People scan a QR code or receive a "key" from the recipient and send money immediately and without fees.

In addition, Coinbase entered into a partnership with Ebanx Payments, a fintech company that focuses on helping global dealers to grow exponentially through its payment solution, which enables companies worldwide to safely act with Latin Americans. EBANX currently processes payments for leading dealers from over 50 countries, including the USA and China.

in a similar way, Coinbase announced that his trading platform would be completely adapted to Brazilian Portuguese to offer its users a better experience. They also offer chat support in the mother tongue, which is available around the clock.

Brazil: The first stop of a long journey

one of the main goals of Coinbase is "to give financial freedom even more Brazilians through the crypto economy". In order to achieve this goal, Fabio Plein, who worked as a country director of the stock exchange, will expand his role as regional managing director to expand the company's relationships in Brazil and Latin America.

According to Bloomberg, the new start of the company in Brazil is part of the international expansion program that started last week to expand into a maximum of ten global markets, including Great Britain, Austria, Singapore and Brazil.

In an interview with Bloomberg Online, Nana Murugersan, Vice President of Business Development and International at Coinbase, said that Coinbase cannot invest in all countries at the same time, so you will deepen your presence in the selected countries before you go to new.

Murugginess also emphasized that the expansion to Brazil takes place due to the importance of the country with regard to the introduction of cryptocurrencies in Latin America, since the nation "is one of the first countries on the index of the introduction of cryptocurrencies". This reflects the enormous business possibility that you could have in the South American country.

At the moment, Binance and Crypto.com are the two largest global competitors of Coinbase with registered legal entities in Brazil. The regional stock exchanges include Mercadobitcoin, Novadax, Biscoint and some brokers that offer indirect engagement in crypto, including XP, Mercadopago, ITAú, 99Pay and Nubank.

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