KuCoin Pay has integrated with Pix, Brazil’s central bank-run instant payments network, allowing users to convert and spend cryptocurrencies at any merchant that accepts Pix QR codes. The launch taps into one of the world’s largest crypto user bases, with roughly 26 million Brazilians, about 12% of the population, now using digital assets, according to an announcement from the exchange.
The integration supports instant crypto-to-Brazilian currency conversions, enabling users to transfer funds from KuCoin accounts to any Brazilian bank or pay merchants directly through Pix. It also features multi-functional wallet tools for managing both cryptocurrencies and fiat currencies within the KuCoin app.
Pix, an instant payments system launched in 2020 and run by the Central Bank of Brazil, serves more than 175 million users. KuCoin Pay, the payment arm of the cryptocurrency exchange KuCoin, is a merchant tool that allows businesses to accept cryptocurrencies for online and in-person transactions. KuCoin ranks as the eighth-largest crypto exchange in the world, with more than $6.2 billion in spot trading volume.
Brazil Leads LATAM in Crypto Adoption
A report from Chainalysis stated that Brazil accounts for nearly a third of all crypto activity in Latin America, with about $318.8 billion in transaction volume from July 2024 to June 2025. The high rate of adoption in the country has attracted a wave of new initiatives from local and foreign companies.
In September, Brazil’s largest private asset manager, Itaú Asset Management, established a crypto division and named former Hashdex executive João Marco Braga da Cunha to head it. The company oversees more than 1 trillion reais ($186 billion) in client assets.
In October, Crown, a São Paulo fintech, raised $8.1 million to launch BRLV, a Brazilian real–denominated stablecoin aimed at giving institutions easier access to Brazil’s high-yield fixed-income market.
On Nov. 3, Brazilian digital bank Banco Inter completed a blockchain-based trade finance pilot with Chainlink, the Central Bank of Brazil and the Hong Kong Monetary Authority. The pilot demonstrated how blockchain could streamline cross-border transactions.
On Wednesday, Coinbase announced it is bringing its “DeFi Mullet” decentralized trading feature to the country, giving local users access to tens of thousands of tokens without leaving the Coinbase app.
Still, some uncertainty persists on the regulatory front. In June, Brazil overhauled its tax rules, replacing its progressive system with a flat 17.5% levy on all crypto capital gains.