It’s been five years since PIX launched in Brazil – since then, several services have integrated into the network, most recently crypto payments
Cryptocurrency exchange KuCoin confirmed it has integrated into Brazil’s PIX network to enable users across the country to make payments with their preferred cryptocurrencies.
The Seychelles-based crypto exchange announced it will support instant crypto-to-fiat conversions for payments with Brazilian Real (BRL) at online checkouts which support PIX QR codes.
PIX users will also be able to send and receive funds from KuCoin accounts to their bank account. They will gain access to multi-functional wallet features from the KuCoin app, through the integration, which supports users to manage their fiat and crypto currencies.
Despite not being available in countries such as the US and UK, KuCoin became one of the first crypto exchanges to comply with the Central Bank of Brazil’s regulations surrounding instant payout methods and KYC checks of PIX in June 2022.
KuCoin agreed to meet the new identity verification standards on fiat-to-crypto transactions, as well as ensure its integration into the PIX payment network was a “secure, regulatory-compliant infrastructure that aligns with Brazil’s KYC standards”.
By complying with these KYC standards, KuCoin was able to partner with local payment company Capitual to perform deposit transfers with Brazilian bank accounts with BRL.
PIX acts on growing digital asset economy
Brazil is one of the largest crypto and digital asset markets, with approximately 12% of the population using some form of digital asset, according to KuCoin..
Chainalysis research confirms Brazil is the largest crypto market in Latin America and fifth in the world based on its global crypto adoption index.
An estimated $318.8bn in crypto value was received in the country from July 2024 to June 2025, which represents one-third of Latin America’s total crypto activity, and over 100% y-o-y growth in Brazil.
A large attributor to this growth pertains to stablecoins, as the digital currency has accounted for 90% of Brazil’s crypto transaction volume. Tether’s USDT is the most popular stablecoin in the country, making up 80% of all crypto transactions.
KuCoin is the eighth largest crypto exchange per 24 hour trading volume. The exchange supports USDT, as well as USDC and TrueUSD, and will become a new alternative to help Brazilians pay with stablecoins with its latest PIX integration.
Other crypto exchanges operating in Brazil, albeit under provisional regulatory rules, are Binance, Coinbase, Foxbit, among others.
Five years of PIX
On November 16, PIX celebrated its fifth-year anniversary after being introduced by the Central Bank of Brazil to transform how Brazilians make payments instantly.
This growth has seen PIX set to reach seven billion monthly transactions for the first time this month (November 2025), and projected to reach 7.9 billion in December. This would bring PIX’s total transaction volume in 2025 to $6.7 trillion, a 34% increase from last year.
Within this statement from the Central Bank, it affirmed PIX is the leading instant payment service in the world, ahead of India’s Unified Payment Interface (UPI), although acknowledging the Indian payment service was the inspiration behind PIX.
The projections are part of a new analysis by EBANX based on publicly available data from the Central Bank of Brazil and the National Payments Corporation of India (NPCI).
“PIX has shown over these five years just how transformative digital payments can be for financial inclusion and economic development,” said João Del Valle, CEO and Co-Founder of EBANX.
“It’s easy to use, free, secure, instant, available 24/7, and—crucially—accessible to everyone. That’s why it’s become the country’s most popular payment method and has opened the door to the digital economy for millions of people.”
