Brazil opens Pix payments to Brazilians living in Argentina.
Banco Central do Brasil announced on Friday that it has expanded its Pix digital payment system to send goods, services and payments to both countries so that Brazilians living in Argentina can access the service.
The central bank's fast payment platform is accepted for fiat onramping service providers operating in Brazil, including the Lemon Crypto app, Binance Pay, Crypto.Com, Mercado Bitcoin exchange and Kraken crypto exchange.
According to the State of the Latin America Crypto Industry 2025 report, Argentina is the number one country in LATAM for crypto adoption per capita, while Brazil is number one for the total value of crypto received.
Argentina has nearly 4x the number of crypto users in the 2021 market cycle, the report said, while the Latin American region has a 3x higher adoption rate than the United States.
Lemon has linked the rise of the user-downloaded crypto application to the PIX payment system.
“Argentina will record 5.4 million crypto app downloads by 2025, more than 90% of which will correspond to wallets that have implemented PIX payments in Brazil,” the report's authors said.
Users in Latin America and other hyperinflationary regions are turning to digital assets compared to traditional fiat currencies and the legacy financial system, which features relatively high transaction fees and currency controls.
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Inflation in Argentina is decreasing, but still high
In 2025, the Argentine peso recorded its lowest annual inflation rate in eight years, with inflation rising to 37%, a three-fold decrease from last year.
The Argentine government has lifted currency controls and allowed residents of Argentina to buy and sell US dollars on the open market, improving the economic conditions of the country.
Previously, Argentine residents were not allowed to buy or sell US dollars, which created a black market for greenbacks and stablecoins denominated in dollars.
This development has opened the door to new use cases for crypto beyond savings and cross-border money transfers, the report said.
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