Buying crypto in Brazil gets easier with Pix payment integration
Quick Take
- Crypto payments firm Ramp has integrated with Pix, Brazil’s digital payment platform.
- The initiative aims to make it easier for Brazilians to buy crypto, while paving the way for Ramp’s partners to seamlessly “tap” consumers in South America’s largest economy.
From the sandy beaches of Rio de Janeiro to fancy eateries of São Paulo, the digital payment platform Pix has quickly become ubiquitous, often more commonly accepted that credit and debit cards.
Now crypto payments firm Ramp has added a Pix integration aimed at making it easier for both consumers wanting to purchase crypto and web3 companies looking to access the Brazilian market, South America's largest economy with a population of more than 200 million people.
"Ramp now offers a faster, cheaper, and more convenient payment option for all Brazilian residents looking to purchase crypto, while enabling its partners to tap into the domestic Brazilian market and benefit from the country's most widely used payment method," Ramp said in a statement, adding that Pix is used by more than 70% of the nation's citizens.
Brazil's central bank launched Pix in 2021.
Pix integration
Ramp's Pix integration comes on the heels of the firm forming a local entity in Brazil in July.
"Now people in Brazil can become part of the Web3 economy in seconds, compared to hours before," Szymon Sypniewicz, Ramp's CEO said in a statement. "Following the recent launch of BRL card payments and the establishing of our local Brazilian entity, this move builds on our mission to make crypto available everywhere."
Ramp raised $70 million in Series B funding late last year, sending its valuation to at least $450 million.
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