A growing number of offshore cryptocurrency exchanges are embracing Brazil’s instant payment infrastructure, PIX.
On May 28, OKEx Announced A strategic partnership with local payment firm CuboPay to facilitate Tether ($ USDT) purchase in exchange for Brazilian Real via PIX.
The integrations come in the form of the Central Bank of Brazil or the BCB, Published Initial Guidelines for Central Bank Digital Currency or CBDC on 25 May.
The announcement emphasizes that the CBDC will operate “as an extension of the physical currency” and aims to improve retail payment systems, promote new business models and increase cross-border efficiency in Brazil through regional and global trade To encourage participation. transaction.
The research at CBDC was authorized as part of a broader move by the Brazilian central bank to modernize the country’s payments sector, including the launch of PIX in November 2020. The guidelines were compiled in August 2020 by a working group established to explore the CBDC. The BCB previously indicated that it expects to develop its CBDC by 2022.
PIX is being adopted by Off-Shore, with Roberto Campos Neto, president of the Central Bank of Brazil, first emphasizing the role of PIX in supporting its CBDC ambitions by providing “an accelerated payment system that is efficient and interoperable”. BCB’s response to cryptocurrency exchanges remains to be seen.
In June 2020, BCB suspended on WhatsApp To investigate the risks posed to the competitive environment of its payments sector, with the central bank suspended only a few months later PIX Reveals as a Response to the Increasing Popularity of Crypto Assets.
Only with whatsapp started again An operation on the use of PIX to access crypto assets, a Brazilian operation earlier this month, may still be a possibility.