Today the well-known cryptocurrency exchange OKEx officially announced the establishment of strategic partnership relationships with CuboPay, a local payment processor with extensive experience and an excellent reputation in Brazil. Exchange users are now allowed to use Brazilian PI (BRL) over PIX in exchange for Tether ($ USDT) purchases.
PIX is an instant payment system developed by the Central Bank of Brazil in response to competition for the use of cryptocurrencies in the country. PIX was officially launched last November. The instant payment system offers a 24-hour payment system with a speed of 10 seconds via mobile apps, internet banking and ATMs.
Roberto Campos Neto, President of the Brazilian Central Bank, believes in the role of PIX in response to new digital payment systems such as cryptocurrencies. He stated that before:
“PIX was born out of the need to have a payment instrument that is cheap, fast, transparent and secure.”
Central banks around the world are actively evolving to advance their central bank digital currency (CBDC). The Brazilian Central Bank (BCB) has already joined this track and has set up a research team to evaluate the benefits of adopting a digital format of the “Brazilian real” currency. last august.
BCB before specified that the country has all the necessary implementations so that digital currencies can be issued in 2022.
In addition to OKEx Exchange, which includes the official Brazilian payment system PIX, several other platforms for trading digital currencies are integrating the Brazilian instant payment system PIX, including Crypto.com and LocalBitcoins for the upcoming CBDC.
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