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Crypto Startup Ramp Adds Brazilian Central Bank's Pix as Payment Method
Adding Pix builds on Ramp's expansion to the South American country, where it opened a local entity in July in a bid for broader expansion throughout Latin America
Ramp Network, a startup offering payment infrastructure to connect crypto and traditional finance, has added the Brazilian Central Bank's Pix system as a payment method.
Adding Pix builds on Ramp's expansion to the South American country, where it opened a local entity in July in a bid for broader expansion throughout Latin America.
STORY CONTINUES BELOW
The Central Bank of Brazil (BCB) introduced by Pix in 2021 as a means for individuals, businesses and government entities to send payments in a matter of seconds. The system is used by over 70% of Brazilians, Ramp said in an emailed announcement on Thursday.
The integration therefore will allow Ramp to offer Brazilian users a fast and convenient way of purchasing crypto.
Brazil has become a regional crypto hub, with major companies such as Coinbase and Bitget opening operations there in the last year, both of which have also integrated with Pix.
Read More: Latin American Crypto Company Ripio Launches U.S. Dollar-Pegged Stablecoin
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
