Binance announced that its customers in Brazil will be able to make payments using their cryptocurrency balances at millions of businesses through the Pix system. This development increases the usability of crypto in the country, allowing users to save and spend directly in crypto.
Binance Revolutionizes Crypto Payments in Brazil With Pix Integration
Binance has taken a step to increase the functionality offered to users in Brazil, positioning itself as a payments processor in the country. The exchange disclosed that it had integrated Pix payments in Binance Pay, allowing its users to pay across a network of millions of businesses.
The new feature will allow crypto users to make everyday payments with crypto directly to these businesses, with Pay handling the conversion from crypto to Brazilian reais seamlessly. The payment functionality targets crypto-centric users, who can use the over 100 cryptocurrencies supported directly to make everyday purchases, such as groceries or gas, and pay using Binance’s platform.
According to the Central Bank of Brazil, Pix has already positioned itself as the most used payment method in the country, even surpassing cash and other digital payments.
Binance CEO Richard Teng remarked on the relevance of this new integration for the local crypto community. He stated this “marks a revolutionary step forward, combining the speed and accessibility of Brazil’s instant payment system with the global reach and innovation of Binance.”
Guilherme Nazar, Binance’s regional vice president for Latin America, stressed this was a milestone for the exchange, marking the first integration of Binance Pay with a national payment system.
He declared:
This launch makes cryptocurrencies more accessible and usable in everyday life, and reflects Binance’s commitment to customizing its global products to meet the demands of our local users.
This achievement follows the approval of the purchase of Sim;paul Investimentos in January, a move that gave Binance the possibility to offer a new suite of products, including securities and stocks, directly to its customers.
Read more: Binance Reaches Milestone in Brazil, Becomes First Exchange With Securities Brokerage Capabilities
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XRP Key in SEC Filing as Webus Builds Treasury Engine
XRP roars into the institutional spotlight as Webus unveils a $300 million digital asset framework, unlocking next-level treasury infrastructure with regulatory clarity and elite execution.
Webus Files With SEC to Establish XRP Treasury Engine
Webus International Ltd. (Nasdaq: WETO) disclosed key details of its Delegated Digital-Asset Management Agreement with Samara Alpha Management LLC through a Form 6-K filing submitted to the U.S. Securities and Exchange Commission (SEC) on June 3. The SEC filing also includes the company’s announcements regarding its XRP treasury plan on May 29 and June 2.
The agreement, executed on May 28, grants Samara Alpha discretionary authority over a potential $300 million portfolio of digital assets, principally XRP, pending activation upon the transfer of assets to designated custody wallets. This filing marks a significant step in Webus’s strategic positioning around digital asset treasury infrastructure while affirming regulatory transparency. The company emphasized the institutional rigor of the partnership, stating:
This strategic framework … is designed to provide Webus with institutional-grade infrastructure and expertise for potential future digital asset treasury operations, specifically focused on XRP management.
Webus confirmed that no funds or assets have yet been transferred, and that Samara Alpha’s obligations begin only upon asset delivery. Critically, the agreement also limits exposure: “The aggregate value of the managed assets under this Agreement shall not exceed US$300,000,000 unless otherwise agreed in writing by both parties.”
Custody arrangements will be executed via multi-signature wallets, with Webus retaining key access and Samara Alpha lacking unilateral withdrawal authority. Fee terms include a 2% annual management fee, a 20% performance fee on net profits above a high-water mark, and an 80/20 staking reward split favoring Webus. The contract, governed by New York law, is set for a three-year term following activation and allows termination with cause or notice. By structuring this digital asset initiative through an SEC-registered investment adviser and codifying protections such as custody controls and risk-defined discretion, Webus signals its intention to cautiously enter the digital asset space without compromising institutional governance.
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