Ubit Integrates with Brazil's Fix System, Offering 170 Million Users Access to USDT

Ubit, a Tether-backed payment app, has integrated with Fix, Brazil's leading digital payment system. The move enables approximately 170 million Fix users to deposit Brazilian real into the Ubit app, convert it to USDT, and use the stablecoin for transactions via Fix. Alex Ovchakovich, Ubit's CTO, stated, "Users can send USDT to Fix keys or scan QR codes, with blockchain handling the backend while maintaining the familiar Fix experience." Fix, a digital payment network created by Brazil's central bank in 2020, is one of the most widely used payment systems globally. While Ubit is not the first to offer Brazilians access to dollar-linked stablecoins, Circle partnered with Nubank in 2023 to enable USDC access. Ubit raised $25 million in Series A funding in 2024 led by Anatoli Yakovenko, co-founder of Tether and Solana.