Coinbase Marks BRL Conversion Issue Resolved 64 Minutes After First Notice

Coinbase marked a Brazilian real (BRL) crypto-conversion issue resolved Monday, 64 minutes after its first notice warned some users may be unable to convert BRL to buy or sell crypto.

The initial notice appeared at 10:46 a.m. ET (14:46 UTC) on Oct. 26. Coinbase posted at 10:56 a.m. ET (14:56 UTC) that it had implemented a fix and was monitoring the results, then marked the incident resolved at 11:50 a.m. ET (15:50 UTC). The interval from the first notice to resolution was 64 minutes; the timeline does not show when the problem began.

The status notices did not state how many users were affected or identify a cause. They also did not specify which crypto assets, trading pairs or conversion routes were involved.

Coinbase’s Aug. 19 rollout enabled customers in Brazil to trade USD Coin (USDC) directly against BRL on Coinbase Advanced. The company said the service would reduce the cost of buying USDC with BRL by 85%. The October incident notice did not say whether this USDC market was affected.