Brazilian mobile payment app PicPay will start supporting cryptocurrencies, launch an exchange and introduce a stablecoin pegged to the real.
PicPay, a Brazilian mobile payment app with 30 million active users, plans to start supporting crypto payments.
Popular Brazilian mobile payment app PicPay announced Monday that it plans to start supporting cryptocurrency payments, as well as launch its own cryptocurrency exchange and a stablecoin pegged to the Brazilian real., PicPay said it plans to offer an exchange through the app so that people can buy and store cryptocurrencies. It will initially support bitcoin, ether and Paxos's Pax Dollar stablecoin.
“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," vice president of technology and products Anderson Chamon said in the blog post.
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