TruBit Connects With Brazil’s Largest Payment System PIX To Expand Market Share

Key Points:

• The TruBit cryptocurrency trading platform has officially connected with the PIX payment system of the Central Bank of Brazil.
• This connection makes for a seamless conversion between the Brazilian legal currency BRL and cryptocurrencies and other platform services.
• PIX is the most popular payment system in the country, accounting for nearly 30% of transactions last year.

As reported by PANews, Latin American cryptocurrency platform, TruBit has officially connected with the most popular payment system PIX of the Central Bank of Brazil.

This connection will allow users to make a seamless conversion between the Brazilian legal currency BRL and cryptocurrencies, buy and sell over a hundred digital currencies, and smoothly use all platform products.

In Latin America, the allure of cryptocurrencies goes beyond pure speculation. Several countries in the region have featured in the ranking as significant technology adopters. Here, cryptocurrencies are either a tool to combat currency devaluation in inflation hotspots or a vehicle for cross-border transactions.

This month, President Lula da Silva signed a decree establishing the central bank, a regional milestone in financial regulation innovation in recent years, as the main watchdog of the cryptocurrency industry.

The connection between TruBit and the Brazilian PIX payment system means that it has taken a strategic step in expanding its business in Latin America and complying with legal deposits and withdrawals. This is especially necessary as countries are stepping up measures to protect users from the high risks of the cryptocurrency industry.

As the largest country in South America, Brazil’s primary payment method, PIX, accounts for more than 30% of Brazil’s digital transactions. This is 20% higher for credit cards and 19% for debit cards.

Since 2021, the number of digital transactions per capita has increased sharply. Brazilians quickly adopted Pix, which is free and easy to use for individuals, and costs less for companies than credit and debit card alternatives.

In addition, TruBit has made significant progress in Mexico, Argentina, Colombia and other countries, becoming one of the most trusted industrial brands in Latin America.

As a comprehensive cryptocurrency platform, TruBit provides wallet, professional trading, OTC, and other services to meet users’ needs from basic to professional level and commercial levels.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.