PicPay, Brazil's largest digital payment app, will allow over 65 million users to buy Bitcoin on its platform. PicPay aims to make it possible to use Bitcoin as payment, not just as an investment.
Brazilian fintech app PicPay will launch an in-app cryptocurrency exchange, allowing its more than 65 million users to trade Bitcoin and other cryptocurrencies as its first cryptocurrency offering, according to a company blog post. PicPay believes that cryptocurrencies go far beyond an investment, and therefore wants to allow payments with cryptocurrencies for even the most basic services in everyday life.
Anderson Chamon, the co-founder of PicPay and vice president of technology and products for the app, had this to say about the initiatives behind the goal of staking crypto as another payment method:
“PicPay will enter the crypto market to lead its popularization not only as an investment, but also as a way to decentralize payments and other financial services.”
Users will be able to buy and store cryptocurrencies through PicPay. In addition, the application will contain educational materials on investing and how to pay for goods anywhere. “There is still a lot of complexity in the crypto world, and our role is to make it as easy as using money for everyone,” explained Chamon.
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