Coinbase is partnering with local payment service providers and the Central Bank of Brazil to simplify the purchase of crypto for the Brazilian real as part of its “international expansion.”
Coinbase announced a partnership with Pix, an instant payment app run by the Central Bank of Brazil, and Ebanx, a Brazilian payment solutions provider. This will make the process of buying and selling crypto for the Brazilian real much easier for the country’s residents.
Moreover, Coinbase developers localized their services in Brazilian Portuguese, including the introduction of 24/7 customer support in this language, and simplified the process of registering and opening accounts on the crypto exchange for Brazilians. Coinbase said it intended to provide access to the cryptocurrency economy and the Web 3.0 sphere to as many Brazilians as possible.
The news about developing cooperation with payment service providers in Brazil was published as part of Coinbase’s “international expansion,” a two-month plan of international contacts with representatives of countries that position themselves as major cryptocurrency hubs. Among them, in addition to Brazil, are the United Kingdom, Germany, the UAE, Australia, Singapore, Hong Kong, Switzerland, Japan, India, and Bermuda.
Specifically in Brazil, the authorities passed crypto legislation in late 2022, marking a turning point in the development of the local market for digital assets, which had previously been actively used by local businesses and people. After that, even more active integration of cryptocurrencies into the local financial system began; for example, Binance and Mastercard agreed to issue a prepaid crypto card.