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KuCoin Pay, the crypto payment arm of KuCoin, has
integrated with Pix, Brazil’s widely used instant payment system, allowing
millions of users to convert over 50 cryptocurrencies into real-world spending. According to the exchange, this move positions crypto as an investment and a practical
financial tool for daily life.

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Crypto Payments in Brazil

KuCoin’s integration with Pix reportedly enables users to
transfer funds directly from their KuCoin wallets to any Brazilian bank account
or pay merchants via QR code. The feature supports both crypto and fiat
currencies within a single app.

By leveraging Pix’s existing network—already serving
175 million users—KuCoin Pay aims to tap into Brazil’s rapidly growing crypto
ecosystem, where approximately 12% of the population, or 26 million people,
already engage with digital assets.

The new platform supports over 50 cryptocurrencies,
including BTC, USDT, USDC, and KCS, for instant conversion to Brazilian real
(BRL). Users can reportedly pay bills, shop online, or settle in-person purchases
without delays.

Raymond Ngai, KuCoin Pay Lead, highlighted the significance: “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.”

Reducing Reliance on Cash

Pix, Brazil’s instant payment system boosts payments by enabling 24/7 transfers using simple identifiers like QR codes. Its
widespread adoption has reduced reliance on cash, increased operational
efficiency, and provided affordable access to digital financial services.

KuCoin Pay has been designed for merchants and
consumers alike. Businesses integrating KuCoin Pay can accept crypto for both
online and offline transactions, unlocking new revenue streams and borderless
payment options.

Meanwhile, KuCoin recently launched KuCoin Institutional, a division
designed for professional investors, brokers, and partners. This move
follows the company’s retail-focused initiatives, such as KuCoin Pay.

The crypto exchange also launched xStocks, a product offering tokenized versions of major U.S. equities, including Tesla, NVIDIA,
and the S&P 500 ETF. These assets are now available for trading on KuCoin
and are denominated in USDT.

This article was written by Jared Kirui at www.financemagnates.com.

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