KuCoin Pay has successfully integrated with Pix, Brazil’s central bank-operated instant payments network, allowing users to convert and use cryptocurrencies to make purchases at any store that accepts QR codes from Pix.
This launch takes advantage of a significant market, as around 26 million Brazilians, which represent approximately 12% of the country’s population, are now exploring digital currencies, according to a recent announcement from the exchange.
The service enables instant conversions from crypto to Brazilian reais and facilitates direct payments to retailers or transfers to Brazilian banks using the Pix system. Additionally, KuCoin’s app features versatile wallet tools for managing both cryptocurrencies and fiat.
Pix was established in 2020 by the Central Bank of Brazil and currently serves over 175 million users.
As the payment branch of KuCoin, KuCoin Pay enables businesses to accept cryptocurrencies for transactions both online and in person. Currently, KuCoin ranks as the world’s eighth-largest crypto exchange, boasting more than $6.2 billion in trading volume according to CoinMarketCap.
Brazil Leads LATAM in Crypto Adoption
An October report from Chainalysis reveals that Brazil continues to dominate crypto activity in Latin America, accounting for nearly a third of all transactions and recording about $318.8 billion in volume from July 2024 to June 2025. This rise in adoption has sparked a flurry of new projects from both domestic and international companies.
In September, Brazil’s leading private asset manager, Itaú Asset Management, announced the formation of a crypto division, appointing João Marco Braga da Cunha, a former Hashdex executive, as head. The firm manages over 1 trillion reais ($186 billion) in client assets.
Moreover, in October, the fintech Crown based in São Paulo, raised $8.1 million to launch the BRLV, a stablecoin pegged to the Brazilian real designed for better access to high-interest fixed-income markets.
On November 3, the Brazilian bank Banco Inter completed a blockchain-based trade finance pilot in collaboration with Chainlink, the Central Bank of Brazil, and the Hong Kong Monetary Authority, demonstrating blockchain’s capacity to simplify cross-border transactions.
Despite the progress, some regulatory uncertainties linger. In June, Brazil revised its tax regulations, swapping a progressive model for a standard 17.5% tax on all crypto capital gains.
