KuCoin Enables Instant Crypto Spending for Brazil's 26M via Pix

KuCoin Pay, the payment arm of cryptocurrency exchange KuCoin, has integrated with Brazil's Pix instant payments network, enabling users to convert and spend cryptocurrencies at merchants accepting Pix QR codes. The move taps into Brazil's robust crypto adoption, where 26 million people - about 12% of the population - now use digital assets. The integration supports instant crypto-to-Brazilian real (BRL) conversions, allowing users to transfer funds from KuCoin accounts to any Brazilian bank or pay merchants directly through Pix according to reports.

Pix, launched in 2020 by the Central Bank of Brazil, serves over 175 million users and facilitates 24/7, fee-free transactions. KuCoin Pay's integration streamlines this process, offering multi-functional wallet tools for managing both crypto and fiat within the KuCoin app according to data. Raymond Ngai, KuCoin Pay Lead, called the integration "a new economic layer" for Brazil's digitally savvy population, emphasizing the platform's mission to make crypto practical for daily use.

Brazil's crypto activity accounts for nearly a third of Latin America's total, with $318.8 billion in transaction volume from July 2024 to June 2025, according to Chainalysis. The country's growing adoption has spurred initiatives from local and foreign firms. For example, Itaú Asset Management, Brazil's largest private asset manager, recently established a crypto division, while fintech Crown raised $8.1 million to launch a BRL-denominated stablecoin.

KuCoin, the eighth-largest crypto exchange by market cap with over $6.2 billion in spot trading volume, aims to strengthen its presence in Latin America. The Pix integration follows its recent expansion to Australia and aligns with broader efforts to connect crypto with mainstream payment systems. Users in Brazil can now pay for groceries, coffee, and electronics using cryptocurrencies like Bitcoin and USDT via Pix QR codes. A promotional campaign offers 50% cashback on first transactions and a chance to win Samsung Galaxy S25 Ultras according to official announcements.

The integration underscores Brazil's role as a crypto innovation hub. With regulatory clarity and a tech-savvy population, the country continues to attract global players according to industry reports.