KuCoin, a globally recognized cryptocurrency exchange, has resumed support for Brazilian Real (BRL) fiat balance transactions on its spot trading platform, marking a significant move to strengthen its footprint in the Brazilian crypto market.
This integration allows users in Brazil to hold BRL in their KuCoin accounts, deposit and withdraw funds using the PIX instant payment system or bank transfers, and directly trade major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) without the need for currency conversions.
The return of BRL support is fully aligned with the Central Bank of Brazil’s Know Your Customer (KYC) regulations, ensuring that users can trade in a secure and compliant environment.
By removing currency conversion fees, KuCoin enhances cost efficiency, a notable benefit in a region where digital assets are frequently used to hedge against economic volatility.
The availability of PIX streamlines deposit and withdrawal processes, enabling real-time fund transfers and improving market responsiveness for traders.
KuCoin launches promotional campaign for Brazilian users
To celebrate the resumption of BRL services, KuCoin has launched a range of promotional offers aimed at incentivizing user participation and rewarding engagement.
These include a Top-Up Ranking Contest, where the top 10 users who deposit the most BRL will share a prize pool of 2,050 USDT.
Additionally, users can receive up to 10 USDT through the Large Purchase Bonus by making qualifying crypto purchases with BRL.
First-time BRL crypto buyers are eligible for a 1 USDT bonus under the New User First Purchase Gift.
Moreover, new users can enjoy fee-free BRL deposits and withdrawals for the first month as part of the New User 0 Fees promotion.
These limited-time incentives aim to accelerate adoption and ease the onboarding process for new users, particularly those without access to foreign currency accounts.
KuCoin’s initiative also reinforces its commitment to making crypto accessible to a broader audience in Brazil.
Commitment to Brazil’s expanding crypto market
KuCoin CEO BC Wong emphasized the strategic importance of Latin America, stating: “Latin America is a vital market for KuCoin, and our commitment remains unwavering. We are dedicated to providing Brazilian traders with an exceptional trading experience.”
Wong also highlighted KuCoin’s pioneering role as the first major exchange to support BRL transfers via PIX following Brazil’s Central Bank policy changes in 2022.
Brazil is currently ranked ninth globally in terms of crypto market size, with net crypto imports reaching $4.69 billion in Q1 2024, a 118% year-over-year increase.
The market is characterized by a high volume of stablecoin transactions, reflecting users’ desire for financial stability amid macroeconomic uncertainty.
Projections estimate that Brazil’s crypto market will generate $2.8 billion in revenue by 2025, supported by a favorable regulatory climate and growing mainstream adoption.
KuCoin’s compliance with upcoming 2025 stablecoin regulations adds another layer of trust for users, positioning the exchange to benefit from future growth in Brazil’s vibrant crypto landscape.
With more than 41 million users worldwide, KuCoin continues to expand its presence through innovation, regulatory alignment, and strategic market integration.
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