Banco Central do Brasil announced the expansion of its Pix instant payments system, enabling Brazilians in Argentina to pay for goods, services, and send money between both countries.
The Pix platform is already integrated with major crypto platforms and service providers in Brazil for fiat onramping, including applications like Lemon, Binance Pay, Crypto.Com, Mercado Bitcoin, and Kraken.
Argentina leads Latin America in crypto adoption per capita, with Brazil topping the region in total crypto value received, according to a 2025 report by Lemon.
The report highlights a significant surge in Argentina's crypto user base and notes that the Latin America region's adoption rate is triple that of the United States.
Lemon attributed a rise in its crypto application downloads to the Pix system. The report indicates that over 90% of Argentina's 5.4 million crypto app downloads in 2025 were from wallets that implemented Pix payments in Brazil.
Users in regions like Latin America, facing high inflation, have increasingly turned to digital assets as an alternative to traditional fiat currencies and the legacy financial system, citing lower transaction fees and fewer currency controls.
Argentina has seen declining inflation, reaching a three-year low of 37% in 2025. The government also removed currency controls, allowing for the buying and selling of U.S. dollars on the open market, which has improved economic conditions and opened new use cases for cryptocurrencies beyond savings and remittances.