Building on its newly established presence in Brazil, Ramp, a financial technology firm creating payment rails linking cryptocurrencies to the world’s financial system, has added the Pix payment system of the Brazilian Central Bank as a mode of payment for crypto purchases made in Brazilian Real.
By integrating Pix, Ramp has given all Brazilian citizens wishing to buy cryptocurrency a quicker, more affordable, and more practical payment alternative. Additionally, Ramp has given its partners access to the Brazilian market and the most popular payment method.
Following the establishment of Ramp’s local firm in Brazil, the firm has integrated with Pix as a first step towards offering customers in Brazil and Latin America a quick, safe, and practical option to purchase and trade cryptocurrency. The company’s growth is an important step in achieving Ramp’s aim to make Web3 available to everyone, anywhere via a seamless and automated onboarding process.
Brazilian customers will profit from Ramp and Pix’s very competitive BRL-to-crypto transaction value. Additionally, since Pix is a domestic payment option, it removes the risk and fees connected with international transactions, making domestic shopping easier and more affordable.
“We’re incredibly proud to massively boost our support to Brazilian users in such quick succession. Now people in Brazil can become part of the Web3 economy in seconds, compared to hours before,” stated Szymon Sypniewicz, CEO of Ramp. “Following the recent launch of BRL card payments and the establishing of our local Brazilian entity, this move builds on our mission to make crypto available everywhere, but in particular where it’s needed most – and at the same time creates even more opportunities for both local Web3 builders and our global partners looking to increase their footprint in Latin America,” added Sypniewicz.
In order to enable Brazilian citizens, businesses, and governmental bodies to make and receive payments instantly, especially on non-business days, the Central Bank of Brazil introduced Pix in 2021. Pix has eclipsed credit and debit cards to become the favorite digital payment option for more than 70% of Brazilians in less than two years after its inception. Ramp’s existence in the nation hence makes the inclusion of Pix support a logical progression from its current provision of card payments in USD and BRL.
A quick connection to the user’s bank makes it easy to begin transactions with pre-filled forms, removing the need to manually create a transaction within banking applications. Pix is renowned for its fluid user experience. Additionally, Pix’s past data reveals a greater acceptance percentage for payments, improving user dependability. Pix’s enterprise-grade security safeguards and close to instantaneous settlements—where funds are transferred between parties in real time instead of taking some time to process and settle—amplify its frictionless user experience.
Ramp provides a comprehensive suite for easy cryptocurrency onboarding, including on-ramp and off-ramp solutions that let consumers acquire cryptocurrencies with conventional money and rapidly and securely convert those digital assets back into fiat.
Users will be able to purchase and sell coins directly inside the apps that developers build using Ramp’s solutions. The company’s offerings are accessible around the world, with on-ramp supported in more than 150 and off-ramp supported in more than 130 countries and territories, respectively.
