A recent update from crypto startup, Ramp Network, should make it markedly easier for both businesses and individuals across Brazil to onboard themselves into the cryptosphere. They’ve successfully integrated Pix, a popular payment method initiated by the Central Bank of Brazil. This integration could create a significant shift in Brazil’s cryptocurrency environment, considering Pix’s extensive usage throughout the country.
Pix, the instant payment system brought to life in 2021 by Brazil’s central bank, is currently utilized by over 70% of Brazil’s population, testament to its wide acceptance. A match made in heaven, Ramp Network‘s integration of Pix now offers those users a smooth, effortless transition into the fascinating world of web3, a decentralized internet powered by blockchain networks.
The integration of Pix isn’t Ramp Network’s first foray into the Brazilian market. Earlier this year, they expanded their multi-currency support to include the Brazilian real alongside several other fiat currencies, clearly announcing their intention to court the Latin American landscape. This move came touted with the promise of offering crypto enthusiasts easy and instant access to the web3 space.
Nevertheless, some may question whether Pix’s integration is a double-edged sword. While Pix undoubtedly offers users an easy and quick payment method, does this hold the potential to expose inexperienced users to the volatility and complexity of the crypto world? Could it also attract scammers, eager to exploit these novice users?
Supporters, on the other hand, argue that Ramp Network’s integration of Pix is a strategic move that gives crypto newcomers a simplified gateway into a somewhat intricate sphere. More than that, they believe that these services bridge the gap between the crypto world and the fiat economy.
In today’s digital shift, crypto companies around the world, such as Ramp Network – having offices in the UK, US, Poland and now, Brazil – are in a race to offer inventive ways to invite the ‘next million users’ into the web3 ecosystem. Whether Pix’s integration by Ramp Network will turn Brazil into a leading player in the crypto world will be a page-turner to keep an eye on.
Source: Cryptonews
