Binance has opened access to its crypto payment service to Brazilian users

Cryptocurrency exchange Binance has announced that it has launched its contactless and secure international cryptocurrency payment service in Brazil to meet the growing demand for this type of service.
Binance Pay will allow Brazilian merchants to offer their customers a new payment method that will attract new clients and reduce costs.
"Payment is one of the most popular use cases of crypto, which has seen a continuous increase in adoption. Companies and merchants can now benefit from the high processing speeds, low costs, and security provided by Binance Pay. We expect this launch to be especially relevant for businesses in Brazil, as the country registers one of the highest crypto adoption increase rates. By accepting crypto as a payment method, they'll increase the number of potential new consumers," said Guilherme Nazar, General Manager of Binance in Brazil.
Since the launch of Binance Pay in 2021, the number of active users has exceeded 12 million, and payment volumes have totaled more than $98 billion.
The launch of Binance Pay in Brazil is in partnership with Latam Gateway, a renowned payment service provider licensed by the country's central bank. This alliance underscores Binance's commitment to partnering with recognized organizations that can provide users with a seamless and regulated payment process.
Binance Pay users will also be able to top up prepaid mobile credit through Binance Pay in the exchange app.
Paying for purchases with cryptocurrency follows the same principle as Pix, a public fiat payment method.
Customers can pay via web checkout or the Binance app after scanning a QR code, and they can choose any of the tokens available in their wallet.
Binance Pay supports more than 70 cryptocurrencies, including Bitcoin (BTC), BNB, Ether (ETH), and USDT. Users pay no fees, while merchants can receive payments in Brazilian reals or cryptocurrency directly to their wallets.
Also recall that Binance took action after Paysafe issued a statement about stopping transactions in euros.