São Paulo-based financial services company PicPay plans to support crypto payments. The company published a blog post that says they aim to enable users to pay with cryptocurrencies for everyday services as the team believes crypto is much more than investments. Users will be able to store and purchase cryptos via PicPay, learn how to invest in these assets using the app and make payments. Also, there will be an option to use PicPay's crypto for platform activities.
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Initially, three currencies will be available on PicPay; Bitcoin, Eth, and the Pax Dollar (USDP) stablecoin. PicPay also intends to release its own stablecoin pegged to the Brazilian real.
The company's co-founder Anderson Chamon said PicPay aims to popularize crypto by actually putting it in people's daily lives. According to Chamon, cryptos will increase again as new use cases appear and become common.
Currently, PicPay has over 30 M active users. They mention that as many individuals registered on the Exchange to invest in crypto in Brazil. However, the company now is focused not on investments but on payment opportunities, credit modalities, and more.