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International customers with BRZ will benefit from PIX, the new Brazilian payment system. They will be able to access the Brazilian market with a bank reconciliation in currency in complete harmony with the movement 24/7 of their peer in BRZ, according to Transfero’s head of Legal and Business Development Latam, Julian Lanzadera.

“PIXcan transform a market that already operates in 24/7 crypto to crypto transactions into a 24/7 crypto-fiat scenario as well. The market that already functions, in essence, on an uninterrupted basis, will, in fact, start to operate uninterruptedly, since the settlement of positions in Brazilian reais can be made from Sunday to Sunday, regardless of the time of day ”, he states.

Pix will raise liquidity of Brazil cryptocurrency market

The new Brazilian payment system, PIX, is expected to bring greater liquidity to the country’s cryptocurrency market. In addition, it should reduce transaction costs not only for retail customers but also for OTC tables. In addition to bringing greater agility and security in transactions between economic agents, pointed out experts heard by PanoramaCrypto.

Local retail exchanges are also gearing up for an increase in turnover. Foxbit’s CEO, João Canhada, expects a 40% increase in revenue from PIX’s operation. “Currently, the market suffers a drop in volume on weekends, holidays and at dawn. Operating 24/7 should have a very immediate immediate impact on exchange revenue, ”he says.

PIX will bring more security to cryptocurrency operations on OTC tables

If in retail, the impact will be significant, in the world of OTC desks, which deal with the purchase and sale of large quantities of cryptocurrencies, the impact will be even greater, evaluates Banco Plural partner, Willian Yoshihiro. “Traders in this market will have greater security in trading, since the receipt of the resource will be immediate and they will not be exposed to the risks of settlement time”, he comments.

Brazilian crypto association ABCripto also foresees an increase in business and defends the inclusion of crypto assets in the national payment arrangement. “The possibility of direct integration of the intermediation and brokerage companies of digital assets in the PIX network would be a very important advance”, says the association’s executive director, Safiri Felix.

In the wake of PIX, Banco Plural will open a digital bank

Settling bank for almost 100% of exchanges in Brazil, Banco Plural already promises to have Pix operational in November, allowing for 24/7 operations. According to Yoshihiro, the deposit identification APIs will become faster after the system is implemented. And deposits and withdrawals on exchanges can be made via QRCode.

In the wake of the new payment system, the bank is in the process of launching a digital bank, in partnership with Genial Investimentos, to offer Pix to the retail customer.