Financial news

Global payments infrastructure provider Mercuryo has integrated with the Brazilian instant payment platform PIX, with an aim of simplifying the usage of crypto across Brazil.

Mercuryo has grown its market across Brazil and Latin America ten times, processing millions of dollars so far in 2023 and partnering with renowned global industry names such as Trust, MetaMask, Ledger and other CEX players. The PIX integration signifies the next step in attracting more partnerships, including with local players.

PIX boasts over 150 million individuals and companies using its services. With this in mind, Mercuryo explained this is a major crypto adoption barrier that Mercuryo has removed. In fact, PIX broke a record with 152.7 million transactions in a single day, totalling R$76.1billion (around USD15 billion) last September.

Mercuryo places a strong emphasis on user experience and its on-ramp solution makes it much easier for PIX users to start using crypto in day-to-day operations. By offering a Portuguese version of its widget page, Mercuryo ensures that users feel comfortable and can stay fully informed when conducting their transactions.

Bakhrom Saydulloev, product manager at Mercuryo, explained the importance of the move: “We believe that on-ramp solutions hold the key to mass adoption in the ever-evolving web3 space. Brazil stands as one of the most prominent markets leading this change.

“Our new integration with PIX empowers us to welcome even more users into the fascinating world of web3, marking a pivotal step in simplifying and democratising access to digital assets in Brazil.”

Brazil’s crypto successes

Regarding cryptocurrency adoption, Brazil has achieved considerable success on the global stage. According to the 2023 data by Chainalysis, the country stands among the top 10 in terms of the highest crypto adoption. In June this year, the number of cryptocurrency users in Brazil reached over 3.2 million – a 60 per cent surge from the 2 million users that were recorded just four months before that.

This achievement underscores the nation’s willingness to embrace the digital financial revolution and the role of crypto assets in it. And as the crypto adoption landscape in Brazil continues to evolve, improvements are constantly made, with Mercuryo now also taking part in this process. By integrating with PIX, Mercuryo offers a faster and more convenient way for Brazilian residents to engage with crypto.

Another significant advantage that Mercuryo brings to the Brazilian crypto market is its competitive exchange rates. Mercuryo recognises the importance of supporting local payment methods and currencies to avoid double conversions. With the On-Ramp integration in place, PIX users can buy and sell their crypto at the best value, making investments in this market more appealing and profitable.