Offered in partnership with local licensee Aeon, the feature allows consumers to spend USDT and USDC stablecoins across major blockchains, while merchants receive payments in Brazilian reais, Bitget Wallet said in a Friday (Sept. 19) press release.
“Our vision is to give users the freedom to pay with crypto anywhere, anytime, without barriers,” Bitget Wallet Chief Marketing Officer Jamie Elkaleh said in the release. “By connecting to Pix, we are bridging global digital assets with Brazil’s vibrant real-time payment infrastructure, making everyday crypto use as seamless as possible.”
PYMNTS reported in March 2024 that Web3 wallets, like the one Bitget had scaled to 20 million users at the time, operate in a decentralized environment and allow users to manage their money directly on blockchain networks without the need for intermediaries.
Web3 wallets serve as a gateway to bankless financial services, with proponents believing they offer more use cases beyond the scope of traditional digital wallets. Cryptocurrency wallets can be used for investment, trading on crypto exchanges, peer-to-peer transactions and participation in decentralized finance platforms.
Aeon announced Sept. 3 that it now enables Brazilian users to pay with cryptocurrency assets while merchants receive Brazilian reais via Pix.
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The capability is powered by Aeon’s new Scan-to-Pay feature, which it added to its Web3 mobile payment solution, Aeon Pay, in Brazil, and it allows Brazilian users to pay at any merchant that supports Pix QR codes.
“With this latest expansion into Brazil and continued rollout across Latin America, Aeon is furthering its mission to weave crypto into everyday life,” the company said at the time.
In May, Binance integrated its payment solution with Pix, enabling people to use Binance Pay and Pix to make instant payments in the local currency using cryptocurrency and transfers to any individual or merchant in the country.
“It allows our users in Brazil to use their cryptocurrencies for payments at any commercial establishment and to anyone in the country, quickly, safely and easily, using a system they are already familiar with,” Guilherme Nazar, Binance’s regional vice president for Latin America, said at the time.
