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Crypto Startup Ramp Adds Brazilian Central Bank's Pix as Payment Method
Adding Pix builds on Ramp's expansion to the South American country, where it opened a local entity in July in a bid for broader expansion throughout Latin America
Updated Sep 14, 2023, 12:00 p.m. Published Sep 14, 2023, 12:00 p.m.
Ramp Network, a startup offering payment infrastructure to connect crypto and traditional finance, has added the Brazilian Central Bank's Pix system as a payment method.
Adding Pix builds on Ramp's expansion to the South American country, where it opened a local entity in July in a bid for broader expansion throughout Latin America.
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The Central Bank of Brazil (BCB) introduced by Pix in 2021 as a means for individuals, businesses and government entities to send payments in a matter of seconds. The system is used by over 70% of Brazilians, Ramp said in an emailed announcement on Thursday.
The integration therefore will allow Ramp to offer Brazilian users a fast and convenient way of purchasing crypto.
Brazil has become a regional crypto hub, with major companies such as Coinbase and Bitget opening operations there in the last year, both of which have also integrated with Pix.
Read More: Latin American Crypto Company Ripio Launches U.S. Dollar-Pegged Stablecoin
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