KuCoin Pay has officially integrated with Pix, Brazil’s widely used instant payments network, allowing users to instantly convert cryptocurrencies into local currency and pay merchants by scanning Pix QR codes. Announced Friday, the rollout connects KuCoin’s global crypto platform with one of the largest and most active digital payments markets in the world.
According to KuCoin, the integration enables real-time crypto-to-fiat conversions within the app, letting users transfer funds to any Brazilian bank or complete purchases directly at checkout using Pix. The service also includes built-in wallet tools that allow customers to manage both crypto and Brazilian reais seamlessly from a single interface.
Pix, launched in 2020 by the Central Bank of Brazil, has become a dominant force in digital payments with over 175 million users, making it one of the most successful government-run payments infrastructures globally. KuCoin Pay already positioned as a merchant-friendly crypto payments solution gains a significant footprint by adopting Brazil’s most popular financial rails.
Brazil strengthens its position as LATAM’s crypto hub
A recent Chainalysis report shows Brazil accounting for nearly one-third of all crypto activity in Latin America, totaling approximately $318.8 billion in transaction volume between July 2024 and June 2025. This rise has encouraged major financial institutions and fintechs to deepen their crypto strategies.
In September, Itaú Asset Management, the country’s largest private asset manager, announced a dedicated crypto division led by former Hashdex executive João Marco Braga da Cunha. Itaú oversees more than 1 trillion reais ($186 billion) in client assets, marking a significant institutional shift toward digital assets.
Innovation continues across multiple sectors. In October, São Paulo fintech Crown raised $8.1 million to launch BRLV, a real-denominated stablecoin designed to give institutions easier access to Brazil’s fixed-income market. And on November 3, Banco Inter, in collaboration with Chainlink, the Central Bank of Brazil, and the Hong Kong Monetary Authority, completed a successful blockchain-based trade finance pilot showcasing the efficiency gains of distributed ledger technology.
Regulatory landscape remains in flux
Despite rapid innovation, regulatory clarity remains a challenge. Brazil introduced a new tax framework in June, replacing its previous progressive model with a flat 17.5% tax on all crypto capital gains. The shift has raised concerns among investors and companies navigating the country’s evolving compliance environment.