Crypto payments are becoming simpler and more affordable in Brazil. Ramp, a financial technology company, introduces its products into the support of Pix, a payment platform created and managed by the monetary authority of Brazil. The goal is to improve access to crypto in the country. By integrating with Pix, used by more than 70% of Brazilian consumers, the company will strive to make it easier to buy crypto within Brazil thanks to a fast and cheap onboarding experience.
Brazilian system of fast payments
The Central Bank of Brazil (BCB) launched Pix in 2021. The service helps Brazilian citizens, enterprises, and government entities to conduct instant money transactions any time of day, each day of the year. In just two years, the service surpassed credit and debit cards and became the main method of digital payment for over 70% of Brazilian customers.
Pix transactions are smooth and convenient. They allow users to conduct transactions with pre-filled information, without inputting data manually in banking apps. Moreover, Pix has demonstrated an increased rate of payment acceptance which makes the platform more reliable for customers. Pix’s convenient user interface is accompanied by enterprise-grade security and almost instant settlements. Transactions occur in real time.
Crypto payments
Ramp creates solutions that connect the crypto economy with the global financial infrastructure. Now it has added Pix, the service of the BCB, as a payment means for purchasing crypto in Brazilian Real. As a result of this innovation, Brazilian customers will have access to a fast, cheap, and convenient payment method for buying cryptocurrencies.
They will benefit from the highly competitive Real to crypto transaction value. Besides, Pix is a local platform. This reduces uncertainties and additional costs related to cross-border transactions. As a result, it provides a smoother and more efficient experience.
“We’re incredibly proud to massively boost our support to Brazilian users in such quick succession. Now people in Brazil can become part of the Web3 economy in seconds, compared to hours before… Following the recent launch of BRL card payments and the establishing of our local Brazilian entity, this move builds on our mission to make crypto available everywhere, but in particular where it’s needed most — and at the same time creates even more opportunities for both local Web3 builders and our global partners looking to increase their footprint in Latin America,” said Szymon Sypniewicz, the co-founder and CEO at Ramp.
Ramp provides all the necessary tools for smooth crypto onboarding, including on-ramp and off-ramp services, helping customers convert fiat money into crypto and back in a secure and fast manner. Moreover, the system is integrated with all the main payment methods, such as debit and credit cards, bank transfers, Apple Pay, Google Pay, and others.
Developers can integrate Ramp’s solutions into their own products so that their users could purchase and sell crypto in their own apps. The services are available globally. On-ramp is supported in over 150 countries and territories, and off-ramp — in more than 130 countries and territories.
