On Monday, July 31, TruBit announced the completion of its integration with the Brazilian Central Bank’s payment system (PIX), giving exchange users the ability to make quick, uncomplicated conversions in pairs between the Brazilian real (BRL) and cryptocurrencies.
PANews, citing sources close to TruBit, reports that the cryptocurrency platform joining the government-regulated payment system was a move by the company to expand its business in Latin America amid increased legal requirements to protect users.
Joining PIX will give TruBit a foothold in Latin America’s most developed online market, where about 40% of economic entities are engaged in e-commerce and 30% of transactions take place online.
Earlier, Brazilian authorities passed
new cryptocurrency legislation that made the Central Bank the sole regulator of digital asset market participants.