Binance and Pix Team to Drive Instant Crypto Payments in Brazil
Binance has integrated its payment solution with Pix, Brazil’s instant payment system.
The integration, announced Wednesday (May 21), allows people to use Binance Pay and Pix to make instant payments in the local currency using cryptocurrencies and transfers to any individual or merchant in Latin America’s largest country.
“This is a significant milestone because it is the first time Binance Pay is integrated into a national payment system in the world,” Guilherme Nazar, Binance’s regional vice president for Latin America, said in a news release.
“It allows our users in Brazil to use their cryptocurrencies for payments at any commercial establishment and to anyone in the country, quickly, safely and easily, using a system they are already familiar with. This launch makes cryptocurrencies more accessible and usable in everyday life, and reflects Binance’s commitment to customizing its global products to meet the demands of our local users.”
With the integration, Binance users in Brazil can make instant transfers and payments directly from their accounts on the Binance to any bank account or pay merchants accepting Pix, a service launched by Brazil’s central bank, and used by more than 174 million people.
“The value of the digital asset is instantly converted to Brazilian reais with transactions completed in seconds,” the release added, with the launch supporting more than 100 cryptocurrencies.
As PYMNTS wrote earlier this month, Pix “has become a dominant force in both retail and business payments” since its launch in late 2020.
The system’s architecture — instant, 24/7 transfers with no fees for individuals — has made it particularly enticing to small businesses and consumers. Merchants can avoid interchange fees, while consumers don’t have to deal with the lag and complexity of traditional bank transfers.
The rise of Pix, that report noted, is part of a broader trend in Latin America, driven by the rise of mobile wallets and real-time payment systems.
Data from the PYMNTS Intelligence April 2025 “Embedded Finance Tracker® Series” shows cash rapidly losing ground across Latin America, as consumers shift to digital payments.
In 2014, cash accounted for 67% of in-store transaction value. Now, that figure has fallen to 25%. And eCommerce transactions have followed a similar path. Digital payments made up 48% of online purchase value in 2024, compared to just 14% a decade earlier.
“Latin America’s move away from cash isn’t just a behavioral shift — it’s a structural one,” PYMNTS wrote.
“With strong mobile penetration, rapid FinTech adoption, and a regulatory climate increasingly friendly to innovation, the region is setting a new benchmark for payment modernization.”
The post Binance and Pix Team to Drive Instant Crypto Payments in Brazil appeared first on PYMNTS.com.