Binance Pay integrates with the Brazilian Central Bank's Pix system, enabling instant cryptocurrency exchange payments

ChainCatcher news, according to financefeeds, Binance announced that its payment service Binance Pay has officially integrated with the Pix instant payment system developed by the Central Bank of Brazil. Through this integration, Brazil's 174 million Pix users can directly use over 100 cryptocurrencies for real-time exchange payments, with transaction speeds consistent with native Pix payments.

Data shows that currently, cryptocurrency holders in Brazil account for 17.5% of the total population, and 42% of investors hold digital assets. Since its launch in 2020, the Pix system has seen a monthly transaction volume exceeding 6 billion, becoming Brazil's mainstream payment method, surpassing cash and debit cards.

Binance stated that this is the world's first direct connection between a cryptocurrency platform and a national payment system.