Brazil's Central Bank Pix Joins Ramp Network's Payment Solutions

cryptonews.com:

Crypto startup Ramp Network has integrated Pix, a payment method offered by the Central Bank of Brazil.

The integration of Pix is expected to significantly ease onboarding to crypto for both individuals and businesses in Brazil, given the widespread use of the payment method in the country.

The move to add Pix comes after Ramp Network first added support for the Brazilian real and a number of other fiat currencies earlier this year.

The news was announced by Ramp Network in a thread on social media platform X on Thursday, after teasing the community for several days that a major Brazil-related announcement was coming.

Among other things, the team said in the thread that Pix users in Brazil now have “instant & direct access to the fastest, easiest, & most convenient way of onboarding into our beloved web3 space.”

Pix allows users to send payments in seconds, and was introduced by Brazil’s central bank - Banco Central do Brasil – in 2021.

The payment system is today said to be used by more than 70% of Brazilians.

Ramp Network offers payment solutions and fiat gateways that connects crypto to the fiat economy, and the team says their solutions enable crypto projects to “easily onboard their next million users into web3.”

The firm established a local presence in Brazil in July this year with a goal to strengthen its footprint throughout Latin America.

In addition to Brazil, Ramp Network has offices in the UK, US, and Poland, and employs more than 160 people around the world.