On March 21, 2023, Coinbase stated its plans to enhance its Brazilian services using partnerships with local services, as stated by Cointelegraph.
According to Cointelegraph, customer support in Portuguese and onboarding are included in its upgrades. It’s believed that the platform has entered into agreements with Ebanx, a Brazilian payment solutions provider, and Pix, a Central Bank of Brazil-backed payment application. Sources suggest that the new collaborations will enable crypto buying through Brazilian real, along with allowing deposits and withdrawals from Coinbase accounts in real.
Based on information by Cointelegraph, Coinbase has been operational in Brazil since 2021. Reportedly, the company hired 40 employees by June, 2022, when it unveiled its services for the Brazilian public. It’s understood that the company intends to develop an exchange platform beyond United States.
Moreover, Cointelegraph noted that Brazil recorded the highest level of digital payment adoption among Latin American countries. Experts suggest that Brazilian crypto regulatory guidelines are a work-in-progress, with involvement of Brazilian Securities and Exchange Commission.
(With insights from Cointelegraph)