KEY TAKEAWAYS
- Argentinians can now use Binance Pay to make instant Pix payments in Brazil, converting crypto to Brazilian reais seamlessly.
- This integration enhances cross-border transactions, making crypto more accessible for millions of travelers.
- Binance Pay’s connection with Pix allows real-time payments, eliminating the need for cash or manual currency exchanges.
Argentinians traveling to Brazil can now utilize Binance Pay to make instant Pix payments in Brazilian reais directly from their cryptocurrency balances. This new feature allows for the conversion of crypto to BRL in seconds, facilitating transfers to any individual or merchant that accepts Pix, Brazil’s most widely used payment system.
The integration marks an extension of the recent Binance Pay rollout with Pix, bringing cryptocurrency into everyday life for millions of cross-border travelers. Millions of Argentinians visit Brazil annually for work, tourism, and family travel. With this new Binance Pay integration, paying in Brazil has become more seamless for these travelers.
How Binance Pay Connects Crypto to Pix
Pix, Brazil’s national instant-payment network, is one of the most widely adopted digital payment systems globally. Starting today, any Argentinian traveling in Brazil can use Binance Pay to send funds or complete merchant payments instantly in Brazilian reais, without friction or complications.
With this integration, Argentinian users can make real-time payments directly from their Binance exchange accounts. Users can choose Binance Pay, select Pix, pick the cryptocurrency they want to spend, and the amount is instantly converted into Brazilian reais. The payment settles in seconds, connecting users to any Pix-enabled merchant and any bank account in Brazil.
Users can choose from over 100 supported cryptocurrencies, with the conversion to BRL handled automatically via a regulated local partner at the market exchange rate. This process eliminates the need for pre-conversion, manual swaps, and cash.
Impact on Cross-Border Transactions
Guilherme Nazar, Binance’s Regional Vice President for Latin America, highlighted the significance of this milestone, stating that expanding the reach of the Pix integration with Binance Pay combines the speed and accessibility of Brazil’s instant payment system with Binance’s global reach. This synergy extends crypto’s reach beyond borders, reducing complications and enhancing the crypto experience.
Pix has become an integral part of daily life in Brazil since its launch by the Central Bank in 2020. More than 162 million Brazilians and over 16 million merchants use Pix, with about 6 billion transactions processed monthly. By connecting crypto directly to these powerful rails, Binance is making digital assets more useful and accessible.
This update addresses a real need in the region. According to Embratur, 2.65 million Argentinians traveled to Brazil between January and August of this year, a 94% increase compared to the same period last year. Instead of relying on cash exchanges or expensive transfers, these travelers can now use crypto for local expenses.
Andrés Ondarra, General Manager of Binance for Argentina and the Southern Cone, emphasized that paying with cryptocurrencies beyond borders represents a leap toward financial freedom, offering speed, security, and flexibility without fees or complications.
The integration of Binance Pay with Pix for travelers from Argentina connects two dynamic ecosystems, enhancing the usability of digital assets in everyday transactions.
For more information, visit the official announcement here.
Why This Matters: Impact, Industry Trends & Expert Insights
Binance Pay’s integration with Brazil’s Pix payment system allows Argentinians to use cryptocurrency for real-time Pix payments, enhancing cross-border transactions and increasing crypto’s everyday usability in Brazil.
Recent industry reports indicate that Brazil is experiencing rapid growth in crypto payment adoption, ranking 5th globally and leading Latin America in crypto usage. This aligns with Binance Pay’s integration with Pix, which brings cryptocurrency into everyday transactions for cross-border travelers.
A report from Intelligent CIO highlights that the integration of Binance Pay with Pix is seen as a significant advancement in mainstream cryptocurrency adoption in Latin America. This supports the news event’s impact by potentially boosting crypto adoption among millions of Brazilians and enhancing payment flexibility and financial inclusion in the region.
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