PIX and Mercuryo collaborate for streamlined cryptocurrency usage in Brazil, targeting over 150 million users.
In an effort to make cryptocurrency usage in Brazil easier, Brazilian instant payment company PIX and global payments infrastructure provider Mercuryo have combined. With ten times the market share in Brazil and Latin America, Mercuryo has processed millions of USD in 2023 and has partnered with well-known names in the worldwide sector like Trust, MetaMask, Ledger, and other CEX players. The next move towards securing more collaborations, particularly those with regional players, is the PIX integration.
More than 150 million people and businesses use PIX’s services, according to the company. In light of this, Mercuryo clarified that he has eliminated a significant obstacle to the adoption of cryptocurrencies. PIX actually set a record last September when it processed 152.7 million transactions in a one day, totaling R$76.1 billion (about $15 billion USD).
Mercuryo prioritises the user experience, and its on-ramp approach makes it far simpler for PIX users to begin integrating cryptocurrency into their daily operations. Mercuryo makes sure that consumers are comfortable and can keep informed when doing transactions by providing a Portuguese version of its widget page.
Product manager at Mercuryo Bakhrom Saydulloev outlined the significance of the change, saying, “We think on-ramp solutions hold the key to mass adoption in the ever-evolving web3 space.” One of the most significant markets driving this shift is Brazil.
“We can now welcome even more users into the exciting world of web3 thanks to our new integration with PIX, which is a crucial step towards democratising and streamlining access to digital assets in Brazil.”
Brazil’s achievements in crypto
In terms of the acceptance of cryptocurrencies, Brazil has done very well internationally. Based on Chainalysis’s 2023 data, the nation is ranked in the top 10 for the largest adoption of cryptocurrencies. Over 3.2 million people in Brazil were using cryptocurrencies as of June of this year, a 60% increase over the 2 million users that were registered just four months earlier.
This accomplishment demonstrates how openly the country is embracing the digital financial revolution and the part that cryptocurrencies play in it. Furthermore, advancements are continuously made as the Brazilian crypto adoption scene changes, and Mercuryo is now involved in this process as well. Mercuryo provides Brazilian citizens with a quicker and more simple option to interact with cryptocurrency by connecting with PIX.
Mercuryo’s competitive exchange rates are a major plus for the Brazilian cryptocurrency sector. Mercuryo acknowledges that in order to prevent repeated conversions, it is critical to support local currencies and payment methods. Because of the On-Ramp connection, PIX users may purchase and sell cryptocurrency at the best price, increasing the allure and profitability of investing in this market.
