Binance has taken a step to increase the functionality offered to users in Brazil, positioning itself as a payments processor in the country. The exchange disclosed that it had integrated Pix payments in Binance Pay, allowing its users to pay across a network of millions of businesses.

The new feature will allow crypto users to make everyday payments with crypto directly to these businesses, with Pay handling the conversion from crypto to Brazilian reais seamlessly. The payment functionality targets crypto-centric users, who can use the over 100 cryptocurrencies supported directly to make everyday purchases, such as groceries or gas, and pay using Binance’s platform.

According to the Central Bank of Brazil, Pix has already positioned itself as the most used payment method in the country, even surpassing cash and other digital payments.

Binance CEO Richard Teng remarked on the relevance of this new integration for the local crypto community. He stated this “marks a revolutionary step forward, combining the speed and accessibility of Brazil’s instant payment system with the global reach and innovation of Binance.”

Guilherme Nazar, Binance’s regional vice president for Latin America, stressed this was a milestone for the exchange, marking the first integration of Binance Pay with a national payment system.

He declared:

This launch makes cryptocurrencies more accessible and usable in everyday life, and reflects Binance’s commitment to customizing its global products to meet the demands of our local users.

This achievement follows the approval of the purchase of Sim;paul Investimentos in January, a move that gave Binance the possibility to offer a new suite of products, including securities and stocks, directly to its customers.

Read more: Binance Reaches Milestone in Brazil, Becomes First Exchange With Securities Brokerage Capabilities

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