[Delio] Brazilian Payment App PicPay to Launch a Stablecoin and a Cryptocurrency Exchange
Brazilian fintech PicPay is to launch a stablecoin and cryptocurrency exchange as part of a drive to make crypto more accessible in the country, crypto media Bitcoin.com reported on July 12.
PicPay first revealed the opening of a cryptocurrency exchange. The platform is scheduled to launch in August of 2019 and will initially support the Paxos USDP stablecoin, Ethereum, and Bitcoin. The corporation intends to continue adding tokens from that point on, reaching 100 coins before the end of the year along with the BRC (Brazilian Real Coin), a stablecoin pegged one by one to the price of the country’s official fiat currency.
PicPay will be utilized as an immediate guarantee that businesses can receive fiat money in their accounts just like if the transaction had been made entirely in Brazilian reals.
In addition, PicPay plans to launch an NFT and metaverse-related services to establish digital service in Brazil.
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