Brazil Merchants Can Now Accept Shiba Inu Payments

Shiba Inu proponents can now pay for goods and services using SHIB as Binance Pay debuts in Brazil with a few partners, including WordPress.

The largest blockchain ecosystem Binance has expanded the services of its crypto payment solution — Binance Pay — to Brazil. This development aims to simplify crypto payments for all merchants operating in Brazil.

With the entry of Binance Pay into the region on Tuesday, Brazil-based businesses can now offer the crypto payment option to existing customers. 

We’re excited to announce that #Binance Pay has now launched in Brazil! ??

Local businesses in the country can now access all the benefits of accepting crypto payments, including increased speeds and lower costs.

Find all the details below. https://t.co/s2av5QsCNC

— Binance (@binance) August 22, 2023

Characterized by low fees and fast processing time, local merchants are expected to record boosted sales moving forward and also attract new customers. The Brazil launch came with partnerships with WordPress and Weo Games.

Regarding the development, Binance’s General Manager in Brazil, Guilherme Nazar, said: “We expect this launch to be especially relevant for businesses in Brazil, as the country registers one of the highest crypto adoption increase rates.”

Shiba Inu Now Accepted By Brazil-Based Businesses

This entry into Brazil now boosts exposure and the potential adoption of support crypto assets, including Shiba Inu, which has continued to expand in utility and as a payment method.

Launched in 2021, the widely adopted Binance Pay solution supports over 70 crypto assets. Shiba Inu is among the assets supported by the borderless and contactless crypto payment portal. As reported by The Crypto Basic, Binance Pay added support for Shiba Inu in November 2022. 

Since then, Shiba Inu payments have reached thousands of merchants across several countries, including France and Latin America. 

Accordingly, the latest development entails that Brazil-based merchants would join the long list of businesses to accept payments in Shiba Inu for goods and services.  

Overall, the launch of Binance Pay in Brazil would further increase the utility of SHIB and other supported tokens. Notably, this development comes shortly after the Shiba Inu team noted that Shibarium public relaunch is approaching.