Key Takeaways:
Binance Pay has now introduced instant crypto-to-fiat payments through Brazil’s widely-used Pix system.
More than 174 million Brazilians can utilize cryptocurrency for everyday transactions via Pix’s extensive network.
This integration further promotes cryptocurrency adoption in Brazil, which ranks as the sixth-largest crypto market globally.
In a significant move for digital currencies, Binance has announced the integration of its payment platform, Binance Pay, with Brazil’s Pix system, allowing for real-time conversions of crypto to fiat currency. This development opens new avenues for millions in Latin America’s largest economy.
The feature enables Binance users in Brazil to quickly convert their cryptocurrencies into Brazilian reais, facilitating payments to any bank account or merchant that accepts Pix, as outlined in a press release dated May 20.
With the ability to support over 100 cryptocurrencies, this integration effectively brings digital assets into everyday transactions, embedding them in a payment system that has gained the trust of over 174 million Brazilians.
Pix Gaining Traction Among Brazilians
Since its launch by Brazil’s Central Bank in 2020, Pix has rapidly gained traction over traditional payment methods.
Current statistics indicate that it is now utilized by 76.4% of the population, surpassing cash and debit card transactions in favorability. The platform handles approximately 6 billion transactions each month.
“This is a major step forward for cryptocurrency adoption in Brazil,” stated Guilherme Nazar, Binance’s regional vice president for Latin America.
“For the first time, Binance Pay is fully integrated into a national payment system, allowing users to spend crypto just as they would with Pix—quickly, securely, and seamlessly.”
Richard Teng, Binance’s CEO, characterized the partnership as a “revolutionary move” that merges the efficiency of Brazil’s government-developed Pix with Binance’s global infrastructure.
“This collaboration facilitates real-time transactions and enhances financial inclusion like never before,” Teng added.
Big news, Brazil! #Binance now supports Pix for payments and transfers in Reais!
Pix is used by 174M+ Brazilians — and now it’s powering seamless crypto transactions on Binance across 100+ tokens.
Real use case. Real adoption. Real impact.
Don’t miss this epic video by… pic.twitter.com/DTkuv45Wvh
— Rachel Conlan (@RachelConlan) May 20, 2025
Brazil stands as the sixth largest nation worldwide for cryptocurrency adoption, with 17.5% of its population actively holding digital assets, according to data from Triple-A.
Moreover, a recent survey conducted by Instituto Locomotiva for Binance revealed that 42% of Brazilian investors currently own cryptocurrencies, a figure that rivals more traditional investment assets such as stocks and mutual funds.
In a historic moment for the country, Brazil recently pioneered the launch of the world’s first exchange-traded fund (ETF) that tracks the spot price of XRP, Ripple’s native cryptocurrency.
This ETF, known as Hashdex Nasdaq XRP Fundo de Índice (FI), is managed by Brazilian asset manager Hashdex and administered by Genial Investments Securities Brokerage SA, with custodianship provided by Genial Bank SA.
Bhutan Partners with Binance for Crypto Tourism Initiative
In a separate yet notable development, Bhutan has teamed up with Binance Pay and DK Bank to facilitate cryptocurrency payments for almost all tourist-related expenses.
Visitors will now be able to use digital currencies to pay for various expenses, including flights, hotels, tours, visa fees, and even roadside purchases.
The payment system, enabled through Binance’s application, supports over 100 cryptocurrencies and allows for real-time transactions via QR codes.
Transaction settlements in local currency are instant, thanks to DK Bank, removing the necessity for traditional banking systems, currency conversions, or international credit cards—thus making travel simpler and more cost-effective for tourists.
Already, more than 100 merchants in Bhutan, ranging from local artisans to small vendors, have adopted this system, allowing even the most remote businesses to accept cryptocurrency payments using a basic smartphone.
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