This week, Bitget Wallet announced the integration of Brazil’s instant payment system, Pix, into its non-custodial cryptocurrency wallet, marking a significant advancement in the cryptocurrency payment landscape. This feature allows users to make purchases directly with self-custodied crypto at restaurants, shops, and during peer-to-peer transactions by simply scanning any Pix QR code.
The integration is part of a partnership with local licensee Aeon, enabling users to spend USDT and USDC stablecoins across major blockchain networks. Merchants benefit by receiving payments in Brazilian reais, aligning with the local economic ecosystem. Bitget Wallet’s Chief Marketing Officer Jamie Elkaleh emphasized the vision of empowering users to make crypto payments seamlessly, stating, “Our vision is to give users the freedom to pay with crypto anywhere, anytime, without barriers.”
In a broader context, Web3 wallets, including Bitget, have been gaining traction. A March 2024 report indicated that Bitget had scaled to 20 million users, showcasing their ability to manage funds directly on blockchain networks without intermediaries. Proponents of Web3 wallets highlight their versatility compared to traditional digital wallets, allowing users to engage in various financial activities such as investment, trading, peer-to-peer transactions, and participation in decentralized finance platforms.
On September 3, Aeon announced its capability to allow Brazilian users to transact with cryptocurrency assets, with merchants receiving payments via Pix. This feature is powered by Aeon’s new Scan-to-Pay function embedded in its Web3 mobile payment solution, Aeon Pay, which facilitates payments at any merchant that accepts Pix QR codes. Aeon reiterated its mission to embed cryptocurrency into daily financial transactions, particularly in Brazil and throughout Latin America.
In a related development, Binance recently integrated its payment solution with Pix, allowing users to utilize Binance Pay alongside Pix for instant transactions in the local currency. This integration also enables swift, safe, and easy payments across commercial establishments and individual transactions within Brazil. Binance’s regional vice president for Latin America, Guilherme Nazar, highlighted the practicality of this system for users who can now use their cryptocurrencies in a familiar payment environment.
The ongoing advancements in cryptocurrency payment systems and their integration with local financial infrastructures signify a growing acceptance and potential for cryptocurrency usage in everyday transactions, particularly in Brazil and across Latin America.
