.PicPay, a Brazilian fintech company that has 30 million active users, plans to launch a crypto exchange with bitcoin and ether trading along with a stablecoin tied to the Brazilian real. oalvespaulo reports.
PicPay, a Brazil-based digital payments app, plans to launch a crypto exchange and a Brazilian real-tied stablecoin in 2022, the company announced Monday.in a statement, adding that the development of its stablecoin will allow users to pay, transfer and store that cryptocurrency as early as 2022.
The company was founded in 2012 as a digital wallet, but later mutated into a payments app offering a financial marketplace, among other services. The platform has more than 65 million users, of which 30 million are active. According to PicPay, the retail crypto market “is already very large in Brazil,” evidenced by the fact that investors double the number of stock investors, the company said based on a survey conducted by local media outlet G1.
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