Coinbase is expanding its services in Brazil through partnerships with local services, according to he announcedto company on March 21. 24-hour customer service in Portuguese and easier onboarding are some of its improvements.
Coinbase has signed agreements with Brazilian payment solutions provider Ebanx and Pix, the instant payment app operated by the Central Bank of Brazil. The new partnerships will make it easier to buy cryptocurrency using the Brazilian real, as well as deposit and withdraw money from Coinbase accounts in real. Brazilians will also have easier access to opening a Coinbase account.
Coinbase has been present in Brazil since 2021, when it established a technology center there, according to its statement. It had 40 employees in June 2022, when it announced the launch of services for the Brazilian public.
According to thehe company, its current improvements in Brazil are part of a broader international expansion. Apparently, too plans to create an exchange platform outside of the United States.
4/ Excited to announce #Coinbase expansion in #Brazil today! We’re integrating with Central Bank of Brazil’s Pix for seamless transactions, offering a fully localized app, and 24/7 support. We are also building for Brazil, from our tech hub in Brazil! https://t.co/gf53W1Ybzy
— Nana Murugesan (@NanaMurugesan) March 21, 2023
Excited to announce Coinbase’s expansion in Brazil today! We are integrating with Pix from the Central Bank of Brazil to make transactions seamless, offering a fully localized application and 24/7 support. We are also building for Brazil, from our local tech center!
Brazil has the highest level of adoption of digital payments in Latin America. Coinbase’s Brazilian expansion follows the agreement reached in January between Binance and Mastercard to launch a prepaid card of cryptocurrencies in the country.
In Brazil, a regulatory framework for cryptocurrencies is gradually emerging. The Brazilian Securities and Exchange Commission requested changes to the proposed cryptocurrency regulation in September, reportedly due to uncertainty about whether cryptocurrencies are a security or a digital asset. The legislation has been approved by both chambers of the Brazilian Parliament and became law in December. It is expected to enter into force in June 2023.
pixels it is a service that does not use blockchain created in 2020. All financial and payment services authorized by the Brazilian central bank are required to provide Pix transfers. already has integrations with OKEx, Crypto.com and LocalBitcoins.
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