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Coinbase Integrates with Brazilian Payment System Pix and Allows Cryptocurrency Purchases with Brazilian Real

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According to reports, Coinbase stated that it had integrated the Brazilian government\’s payment system Pix and started allowing the purchase of cryptocurrency using the Brazilian r

Coinbase Integrates with Brazilian Payment System Pix and Allows Cryptocurrency Purchases with Brazilian Real

According to reports, Coinbase stated that it had integrated the Brazilian government’s payment system Pix and started allowing the purchase of cryptocurrency using the Brazilian real. The collaboration with Pix, which has over 140 million users, was achieved through collaboration with Ebanx, a Brazilian end-to-end payment processor. In addition to purchasing in local currency, customers can also withdraw the Brazilian real.

Coinbase allows the purchase of cryptocurrencies using the Brazilian real

Introduction

Coinbase, the leading cryptocurrency exchange platform in the United States, has announced that it has integrated with the Brazilian government’s payment system Pix. With this integration, the platform now allows for the purchase of cryptocurrencies using the Brazilian real currency. This collaboration with Pix, which has over 140 million users, was made possible through Coinbase’s partnership with Ebanx, a Brazilian end-to-end payment processor.

Benefits of Coinbase’s Integration with Pix

One of the major benefits of Coinbase’s integration with Pix is the ease of purchasing cryptocurrencies using the Brazilian real for residents of Brazil. Previously, Brazilian users had to convert their national currency to U.S. dollars or euros to purchase cryptocurrencies on the platform. This meant that they had to suffer foreign exchange fees and could not use their local currency directly. However, the integration with Pix now allows Brazilian customers to purchase cryptocurrencies on Coinbase using their local currency, thereby reducing extra costs of converting their currency.

Ebanx Partnership

According to reports, Coinbase partnered with Ebanx to achieve the integration with Pix. Ebanx, which has been operating in Brazil since 2012, has been helping businesses in Brazil and other Latin American countries to expand their payment capabilities. In a statement, Ebanx stated that “Our payment solutions are now part of the global well-known Coinbase platform, which reinforces our ideas and what we believe in: the creation of a more interconnected and democratized financial world.” Ebanx’s partnership with Coinbase will further boost its payment capabilities by providing access to more users seeking to transact cryptocurrencies in Brazil.

Benefits of Using Pix

Pix was launched in Brazil in November 2020 as an instant payment system by the Central Bank of Brazil. The system allows individuals and businesses to make transactions through a smartphone app or using a QR code on a payment machine. Unlike traditional payment methods, where fees are charged for each transaction, Pix charges a flat fee for every 10 transactions, thereby reducing the cost of payment processing for consumers and businesses. The integration with Coinbase now offers Brazilian users the opportunity to transact cryptocurrencies without additional foreign exchange fees and at a relatively low transaction cost.

Buying and Withdrawing Cryptocurrencies with Brazilian Real

Coinbase’s integration with Pix now allows Brazilian customers to purchase cryptocurrencies using the Brazilian real in a simple and transparent process. All that Brazilian users have to do is connect their Pix account with their Coinbase account and complete their purchase.
In addition to buying cryptocurrencies, users can also withdraw their funds in Brazilian real from Coinbase. This is a significant benefit as it allows Brazilian users to seamlessly move between the cryptocurrency market and their local currency without additional conversion fees.

Conclusion

Coinbase’s integration with the Brazilian payment system Pix represents a significant milestone in the cryptocurrency market in Brazil. The partnership with Ebanx has made it easier for Brazilian customers to purchase cryptocurrencies using their local currency, thereby levelling the playing field for them on the global cryptocurrency market. In addition, the integration with Pix will reduce the costs associated with foreign exchange and transaction fees, making it easier for Brazilian users to access and transact cryptocurrencies.

FAQs

**1. How does Coinbase’s integration with Pix benefit Brazilian customers?**
The integration with Pix benefits Brazilian customers by allowing them to purchase cryptocurrencies using the Brazilian real currency. This means that they don’t have to exchange their currency to euros or U.S. dollars, which would previously attract additional foreign exchange fees. In addition, Pix charges a flat fee for every 10 transactions, unlike traditional payment methods.
**2. How does the partnership with Ebanx help Coinbase in Brazil?**
Partnering with Ebanx provides Coinbase with access to more Brazilian customers seeking to transact cryptocurrencies in Brazil. Ebanx is a Brazilian end-to-end payment processor that has been operating in Brazil since 2012. By partnering with Ebanx, Coinbase can increase its payment capabilities and reach more cryptocurrency users in Brazil.
**3. Can Brazilian users withdraw funds in Brazilian real on Coinbase?**
Yes, Brazilian users can withdraw their funds in Brazilian real from Coinbase. This is a significant benefit as it allows Brazilian users to seamlessly move between the cryptocurrency market and their local currency without additional conversion fees.

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