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- Coinbase Global (NASDAQ:COIN) said Tuesday that it has integrated Pix, the Central Bank of Brazil's instant payment platform, and started enabling cryptocurrency purchases with reals, according to a blog post.
- The crypto exchange's customers in Brazil, a crypto-friendly country, will also be able to withdraw Brazilian reals. Prior to the move, users in the nation were only allowed to buy crypto using credit cards.
- Coinbase (COIN) already has a strong presence in Brazil, having developed a technology hub in the country in 2021, with engineering talent developing crypto and web3 technologies, it said.
- COIN climbed 6.7% in early afternoon trading as bitcoin (BTC-USD) came under some buying pressure in the runup to the Federal Reserve's interest-rate decision on Wednesday.
- Despite surging over 120% since the start of 2023, SA contributor Josh Arnold thinks COIN is still a Buy as bitcoin's (BTC-USD) "bull case is strengthening in a big way."