KuCoin Pay Integrates Crypto Payment Acceptance Tool With Brazil’s Pix

KuCoin Pay now enables Brazilians to convert and spend cryptocurrencies at any merchant that accepts the QR codes of Brazil’s instant payment system, Pix.

The capability was enabled by the integration of KuCoin Pay, which is the crypto payment arm of global crypto platform KuCoin, and Pix, according to a Friday (Nov. 21) press release.

With this integration, KuCoin Pay instantly converts any of the more than 50 cryptocurrencies that it supports to Brazilian real, enabling users to transfer funds from their KuCoin accounts to any Brazilian bank or pay a merchant via Pix, according to the release.

“By integrating with Pix, we are unlocking a new economic layer for Brazil’s digitally savvy population,” KuCoin Pay Lead Raymond Ngai said in the release. “This embodies our commitment to enhance crypto accessibility for all, building on our previously announced on-chain payment solutions as a new step forward in making digital assets practical for everyday life.”

KuCoin introduced KuCoin Pay in January, saying this crypto payment acceptance tool aims to bridge “the gap between traditional retail and crypto, offering contactless and borderless transactions.”

The company said integration with its app allows “businesses to tap into KuCoin’s … user base while simplifying the buying process for everyday items for users. Daily requests such as gift cards and mobile top-ups can be done seamlessly, further promoting widespread crypto adoption.”

KuCoin said in July that KuCoin Pay expanded globally and was enabling crypto payments for real-world services such as retail purchases via AEON’s VietQR and QR Ph codes in Southeast Asia.

The company also said at the time that its cryptocurrency exchange had more than 41 million registered users.

When announcing its integration with AEON in May, KuCoin Pay said this would advance its Web3 mobile payment capabilities across online and offline retail environments. AEON is a Web3 payment protocol.

“By adopting AEON’s suite of interoperable payment tools, including Web3 Mobile Payments, Online Web3 Payments and support for recurring or pre-authorized transactions, KuCoin Pay strengthens its ability to offer scalable and user-friendly payment solutions,” the company said at the time in a press release.