Imagine a Brazilian entrepreneur, Ana, who needs to send a payment to a supplier in Germany. In the past, she would have had to jump through hoops—dealing with bank transfers that would take days to finally arrive or even some restrictions for dealing with crypto.

But today, with Pix, she can convert Brazilian Reais (BRL) into cryptocurrency within minutes. All it takes is a few clicks, and the payment is instant and hassle-free.

Brazil is experiencing a financial revolution powered by alternative payment methods like Pix. The country is already a global leader in crypto adoption, with millions of Brazilians turning to digital currencies for savings, payments, and even remittances.

Pix, Brazil’s instant payment system’s role has been undeniable. Its simplicity, speed, and accessibility make it the perfect bridge to the crypto world, especially for the unbanked and those looking for lower-cost alternatives to traditional banking.

Historically, Brazilians have always had a penchant for alternative payment methods (APMs). Whether it was the Boleto system (a slip used for payments) or the popular habit of buying in installments with credit cards, Brazil’s cultural preference for flexible, user-friendly financial solutions has paved the way for Pix’s success.

Studies show that over 60% of Brazilian consumers prefer to make purchases using installment payments or alternative methods, and Pix taps into this mindset by offering speed and flexibility.

Brazil’s Crypto Surge and the Decline of Traditional Payment Methods

Brazil’s rise as one of the top crypto-investing countries is further evidenced by data from the World Economic Forum, which ranks Brazil as one of the top 5 countries globally for crypto investors. In fact, in a 2024 study, 41% of Brazilians have either bought or traded cryptocurrency, with the younger demographic leading the charge.

Meanwhile, credit card usage is on the decline, reinforcing the shift toward more convenient, lower-cost payment solutions. Pix usage jumped 74% last year, reaching nearly 42 billion payments across Brazil’s economy — about 23% more than the total of credit and debit card transactions combined, according to Central Bank data and industry group Abecs.

Pix: Brazil’s Instant Payment Success Story

But what makes Pix such a big success just three years after its launch?

Pix is considered a success story in Brazil for several reasons. Globally, the system is also an inspiration for other financial systems. First, its interoperability, ease, and practicality in making financial transactions are unmatched. With Pix— similar to cryptocurrency — instant payments can be made 24/7 without intermediaries. This provides a fast and convenient user experience, eliminating the wait times and restricted hours of traditional services.

Security is also a key point. In Pix, protection is advanced. All transactions are made with digitally signed and encrypted messages on a network separate from the internet, within the National Financial System (SFN). The Directories of Transactional Account Identifiers (DICT), which store Pix keys, have encrypted data and other protective mechanisms against scams and fraud.

Another factor contributing to Pix’s success is the way the Central Bank implemented it. The system was made mandatory for many regulated entities and voluntarily adopted by several financial institutions and companies, bringing entities into the new environment and enabling new competitors to join the system with ease. All of this focuses on convenience and the user experience.

From Cards to Pix: A Regional Shift in Payments

In Brazil, Pix has rapidly become the leading payment system, outpacing traditional methods like credit cards for e-commerce payments. As of 2024, Pix is already used by 97% of respondents in the country, significantly surpassing competitors such as PayPal (42%) and Mercado Pago (17-29%).

By 2025, Pix is expected to dominate the market, accounting for 44% of online payments, while credit cards will hold a smaller share of 41%. This rise in popularity is due to Pix’s free, instant transaction system, which offers enhanced financial inclusion and convenience for both consumers and merchants.

Despite its growth, credit cards are unlikely to disappear entirely. Pix’s future developments, including the ability to pay in installments, could further challenge credit cards but will likely coexist with them as both systems adapt.

Why Brazil is a Hotspot for Crypto Adoption

As mentioned, Brazil ranks among the top five countries globally in terms of crypto users, with an estimated 42% of the population involved in the crypto market. Economic factors like high inflation and limited access to traditional banking drive many Brazilians toward alternative financial options, with crypto increasingly viewed as a store of value and investment tool.

For crypto companies looking to tap into Brazilian market, having access to local APMs is a step one.

Mercuryo, a key player in crypto-to-fiat transactions, has seen its user base expand significantly in Brazil, where the introduction of PIX has enhanced transaction speed and affordability. Partnerships with platforms popular in Brazil, such as MetaMask, Trust Wallet, Ledger, and Bybit, have likely contributed to the overall adoption, enabling users to enter and exit crypto markets with minimal barriers. By integrating PIX, major crypto players support local users’ demand for flexible, cost-effective payment options.

James Morreale, Product Operations Manager at Mercuryo, highlights the importance of PIX in the crypto ecosystem, emphasizing its role as a crucial payment method for dApps looking to scale in the rapidly growing Brazilian market:

“At Mercuryo, we see firsthand the positive impact of supporting PIX. With over 150 million users relying on PIX for instant, seamless payments, it’s more than a convenience—it’s a necessity for dApps looking to scale in the rapidly growing Brazilian market. We’re enabling our partners to reach a vast, engaged audience with a payment method their users trust and use every day, boosting both engagement and conversion.”

Why Pix is Essential for dApps in Brazil and Latin America

Latin America is home to a diverse set of countries where access to financial services remains a challenge. From Mexico to Brazil, a significant portion of the population is unbanked or underbanked, relying on alternative payment methods to carry out daily transactions. In this environment, Pix stands out as a seamless solution that meets the needs of both crypto businesses and their users.

The unbanked population in Latin America, combined with high smartphone penetration and lower average incomes, makes APMs an essential tool for financial inclusion. Pix provides a level of simplicity that other payment methods lack. With fewer barriers to acceptance, fewer intermediaries, and faster processing times, Pix is the payment system of choice for users who are often wary of traditional banking institutions.

For dApps targeting users in Brazil and other parts of Latin America, integrating Pix is not just a convenience but a strategic advantage, just like mentioned by Morreale. By offering an easy-to-use payment system that aligns with local consumer habits, businesses can onboard new users and increase retention with minimal friction.

Top Platforms Using PIX

Since Mercuryo integrated PIX, transaction volumes have surged, highlighting the payment method’s alignment with Brazilian users’ needs and the regional trend toward quick, cost-effective payment solutions:

PIX consistently outperformed card payments in terms of conversion rates, with data indicating that PIX transactions converted at least 20% higher than card payments in 2023. This advantage expanded further in 2024.

Among the most popular platforms adopting PIX are:

Trust Wallet

Popular for its accessibility, ease of use, and reliability, Trust Wallet attracts a broad user base looking for convenient fiat-to-crypto exchanges along with the other basic wallet functions.

MetaMask

Known for enabling seamless crypto purchases, MetaMask has capitalized on PIX’s instant payment features to meet local demand.

Bybit

With a strong presence in the LATAM region, Bybit leverages PIX to offer faster, more affordable transactions, appealing to active traders.

These platforms benefit from PIX’s ability to streamline onboarding and enhance conversion rates. By eliminating traditional banking barriers and supporting real-time transactions, PIX helps foster a more accessible entry point for Brazilians into the crypto market, from newcomers to experienced users.

Conclusion

Pix is more than just another payment option in Brazil; it is a strategic advantage for any crypto-related business looking to tap into the rapidly growing Latin American market. As Brazil leads the charge in crypto adoption, integrating Pix is essential for staying ahead of the competition.

By adapting to regional payment trends, businesses can leverage the potential for higher user adoption and retention while also contributing to the financial inclusion of millions in Latin America.

With the support of Mercuryo, platforms can ensure they are offering the most seamless, secure, and convenient on-ramp for Brazilian users. The future of payments in Latin America is digital, and Pix is at the heart of this transformation.