Ramp, a financial technology company building payment rails connecting crypto to the global financial system, is building on its recently established presence in Brazil by adding the Brazilian Central Bank’s Pix as a payment method for crypto purchases in Brazilian Real.
By adding Pix, Ramp now offers a faster, cheaper, and more convenient payment option for all Brazilian residents looking to purchase crypto, while enabling its partners to tap into the domestic Brazilian market and benefit from the country’s most widely used payment method.
Ramp’s integration with Pix comes in the wake of the company’s establishing its local entity in Brazil, as a stepping stone to provide Brazilian and Latin American users with a fast, secure, and convenient way to buy and sell crypto. The company’s expansion is a key step towards fulfilling Ramp’s mission of making Web3 accessible to everyone, everywhere, via an automated and frictionless onboarding experience.
Brazilian consumers will benefit from incredibly competitive BRL-to-crypto transaction value with Ramp and Pix. Moreover, as a local payment method, Pix eliminates the uncertainty and surcharges associated with cross-border transactions, providing a more seamless and cost-effective purchasing experience in the country.
"We’re incredibly proud to massively boost our support to Brazilian users in such quick succession. Now people in Brazil can become part of the Web3 economy in seconds, compared to hours before," stated Szymon Sypniewicz, CEO of Ramp. “Following the recent launch of BRL card payments and the establishing of our local Brazilian entity, this move builds on our mission to make crypto available everywhere, but in particular where it’s needed most - and at the same time creates even more opportunities for both local Web3 builders and our global partners looking to increase their footprint in Latin America,” added Sypniewicz.
Brazil’s Central Bank launched Pix in 2021 as a way for Brazilian individuals, companies, and government entities to send and receive payments in a matter of seconds at any time, including on non-business days. Less than two years after launch, Pix has surpassed credit and debit cards to become the preferred digital payment method for more than 70% of Brazilians. The addition of Pix support is therefore a natural next step to Ramp’s presence in the country, following its existing offering of card payments in USD and BRL.
Pix is noted for its smooth experience, with a convenient connection to the user’s bank making it simple to initiate transactions with pre-filled fields, eliminating the need to manually creating a transaction inside banking apps. In addition, Pix’s historical data shows a higher rate of payment acceptance, enhancing reliability for users. Its seamless user experience is amplified by Pix’s enterprise-grade security measures and near-instant settlements, with fund transfers between parties concluded in real time, unlike card payments that often require some time to process and settle.
Ramp offers a full suite for seamless crypto onboarding, including on-ramp and off-ramp products that enables users to buy cryptocurrencies using traditional fiat, and then move those digital assets back into fiat currency, securely and quickly.
Developers can integrate Ramp’s solutions into their products, enabling users to buy and sell coins natively within their applications. The company’s services are available globally, with on-ramp being supported in 150+ and off-ramp in 130+ countries and territories respectively.
Ramp is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, Ramp provides businesses and individuals across 150+ countries with a streamlined and smooth experience when converting between cryptocurrencies and fiat currencies. Ramp is fully integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more.
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