2 years ago
Picpay, 1 of the astir fashionable payments fintech companies successful Brazil, has announced that it volition commencement including cryptocurrency services successful its app. The institution explained that these services volition see the anticipation of purchasing crypto and processing payments with crypto directly. Picpay follows the actions of companies similar Nubank and Mercado Libre, which person besides started offering crypto services recently.
Picpay to Allow Customers to Use Crypto From App
More fintech-based companies are present approaching crypto arsenic a mode of extending their work offering for their customers. Picpay, a Brazilian fintech and payments company, has announced it volition present let its customers to acquisition crypto from wrong its app utilizing fiat funds. The institution announced it volition see respective cryptocurrencies successful its wallet, including BTC, ETH, and USDP, a Paxos-backed stablecoin.
According to section reports, the work would beryllium handled by Paxos, the aforesaid institution that has provided crypto absorption services for different companies that are besides offering crypto services successful Brazil, specified arsenic Mercado Libre and Nubank.
To the company, this is simply a precise important move, arsenic expressed by Anderson Chamon, co-founder and vice president of products and exertion astatine Picpay. He stated:
Picpay volition participate this satellite precise strongly. It volition not beryllium an accessory product, it volition beryllium a precise important enactment of business.
Picpay plans to rotation retired this update for adjacent month, though it is inactive chartless if the institution volition let crypto deposits and withdrawals from its platform. More than 60 cardinal users of the app volition beryllium capable to utilize the caller services successful Brazil.
Payment Services and a Real-Pegged Stablecoin
As an hold of the caller services, the app volition besides let customers to wage with crypto successful immoderate of the merchants utilizing Picpay arsenic portion of their outgo options. The fintech institution aims to marque this imaginable aboriginal this year, with the cryptocurrencies being liquidated automatically for fiat wealth to support merchants from volatility.
By the extremity of the year, Picpay informed it expects to person much than 100 cryptocurrencies successful its wallet, offering an ample scope of options for imaginable investors. However, 1 of its astir ambitious projects is the motorboat of its ain Brazilian real-pegged stablecoin, which volition beryllium utilized to marque payments and purchases. About the planned stablecoin, called brazilian existent coin (BRC), Chamon stated:
You volition not request to beryllium a Picpay idiosyncratic to usage this stablecoin. You tin beryllium a tourer coming to Brazil, instrumentality Paypal oregon different integer wallet, bargain BRC connected an speech and usage it successful the Brazilian market.
What bash you deliberation astir Picpay launching a cryptocurrency speech and outgo service? Tell america successful the comments conception below.
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