Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Brazilian fintech dives into cryptocurrencies despite the bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market. It will launch an exchanage, its own stablecoin and will promote cryptopayments.
- PicPay will enable Bitcoin trading on its app.
- It is launching a cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange and a stablecoin.
- It also plans to integrate cryptocurrencies as a means of payment.
Amid the turmoil in the cryptocurrency market, a well-known digital payments platform a place to buy, sell and store cryptocurrency based in Brazil has decided to dive into the crypto space.
La fintech Brazilian PicPay is developing a strategy that will open the doors to the trade of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. to more than 30 million users. According to a report by the news agencyNeoFeedthe platform is working on launching a new cryptocurrency exchange, its own stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. and other products as part of new efforts to expand into the crypto world.
“ PicPay will enter this world with a bang! “, comentó en exclusiva el cofundador y vicepresidente de PicPay Anderson Chamon, to that news outlet. “ It will not be an accessory product, will be a very important line of business “.
PicPay se expande a las criptomonedas
The first plan within these efforts is the launch of a cryptocurrency exchange that will offer the app’s customers services for buying, selling and storing digital assets. Initially, the platform will provide support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for the trade of Bitcoin , Ethereum a decentralized open-source blockchain with smart contracts functionality. y USDP, the stablecoin de Paxos linked to the U.S. dollar.
The new exchange is expected to go live in August, which, according to the local news will open the trade of Bitcoin to more than 30 million Brazilian customers. While the commercial listing the addition of an asset or an asset pair to an exchange. will be limited at launch, the goal is for the list to expand to more than 100 cryptocurrencies by the end of 2022.
But the company’s plans are far from over. According to the report inNeoFeed, PicPay also contemplates boosting crypto-payments and entering the market an area or arena, online or offline, in which commercial dealings are conducted. of tokens non-expendable (NFT). The idea is that, by the end of the year, the clients of PicPay can pay bills, invoices and other services directly with cryptocurrencies from the application.
Payments with digital assets could also be integrated into PIX, the payment system created by the Central Bank of Brazil, according to its co-founder. In conversation with the aforementioned media, Chamon explained that a user will be able to make a PIX payment using cryptocurrencies without the need for the owner of the establishment to be aware of that. “Haremos la conversión y él lo recibirá en efectivo“.
Our role is to remove the complexity, bring it into the real world and help cryptocurrencies become popular. We will be a driving agent for that.
Will launch its own stablecoin
Among the perhaps most ambitious efforts of the fintech The launch of its own stable currency, called BRC, which will be pegged to the Brazilian real, Brazil’s official currency. “ There is no such thing as a robust stable real currency currency is a medium of exchange that defines value. and PicPay will be the great sponsor of that. “Chamon commented on the matter.
According to the report, the goal is for the stablecoin to be included on the world’s major cryptocurrency exchanges and for its use to spread a price difference between asking and selling prices of the asset. beyond PicPay users. “ You can be a tourist coming to Brazil, take PayPal or another digital digital technologies are these electronic tools that have the ability to generate, store or even process data. wallet, buy BRC in an exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. and use it in the Brazilian market. “, says Chaman.
The representative of PicPay indicated that the company had opted to enter the cryptocurrency business under the conviction that this technology will be decisive in the next 10 years. To this end, the company has spent the last five months working on the creation of a new Crypto and Web3 unit, which currently has about 20 professionals on the team.
“ Our vision is long a situation where you buy a cryptocurrency with the expectation of selling it at a higher price for profit later. term “ commented Chaman, who added that the company “ understands the fundamentals “and therefore sees “mucho valor“in such technology. “ In 12 months, we believe [at least] 3 million users will be using cryptocurrencies within PicPay. “.
- Venezuela, Colombia, Brazil and Peru are in the top 20 countries with the highest percentage of crypto owners, according to the UN
- Binance resumes real deposits in Brazil with Pix payment system
- Warren Buffett-backed Brazilian bank Nubank officially launches Bitcoin services
Article by Hannah Estefania Perez / DiarioBitcoin
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