Coinbase Collaborates with Brazil's Pix to Boost Crypto Trading

Coinbase, a United States-based digital currency trading platform, has partnered with a popular payment app to offer Brazilians more options for buying and selling cryptocurrency. This partnership also includes better customer service, such as 24/7 support in Portuguese and easier account setup.

Coinbase has made agreements with Brazilian companies Ebanx and Pix to help people buy cryptocurrency using Brazilian money and allow deposits and withdrawals in real. This will also make it simpler for Brazilians to open a Coinbase account.

Coinbase started operating in Brazil in 2021 by setting up a technology center there. In June 2022, they declared that they would provide services to the Brazilian people, and at that time, they had 40 workers in Brazil.

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The company announced that it’s improving its operations in Brazil as part of its efforts to expand globally. Additionally, it’s said to be working on creating an exchange platform in a country that is not the United States.

Regulatory Framework for Coinbase Emerging in Brazil

In Latin America, more people in Brazil use crypto payments than in any other country. Recently, Coinbase decided to expand its business to Brazil. This happened shortly after Binance and Mastercard made a deal in January to introduce a prepaid crypto card in Brazil.

Brazil is creating rules for cryptocurrency little by little. In September, the people making the rules wanted to change some because they were unsure if cryptocurrency should be considered a security or a digital asset.

The Brazilian parliament approved a new law in December starting in June. It says all licensed financial services in Brazil must use Pix for payments. Pix is a service that started in 2020 and works with OKEx, Crypto.com, and LocalBitcoins.

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