.Coinbase has integrated the Brazilian government’s payment system Pix and started allowing crypto purchases with Brazilian reals. $COIN andresengler reports
The tie-in with Pix – which has more than 140 million users – was enabled through a partnership with Ebanx, a Brazilian end-to-end payment processor. In addition to making local currency purchases, customers will also be able to withdraw Brazilian reals.In 2021, Coinbase opened a technology hub in Brazil, where it hired more than 40 full-time engineers and eventually a country director.
Until now, though, Coinbase users in Brazil could only purchase crypto using credit card payments.“Brazil is a key market for Coinbase's international expansion strategy. We are committed to investing in and developing products tailored to the needs of the Brazilian market, as we recognize the immense potential and growth opportunities in the region,” Nana Murugesan, vice president of International at Coinbase, said in a statement.
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