Paxos Enables PicPay’s New Crypto Exchange to Over 30M Users in Brazil

Regulated blockchain infrastructure platform Paxos has teamed with Brazilian payments app PicPay to bring digital assets to PicPay’s 30 million active users.

Users of PicPay can now purchase, sell, and hold Bitcoin, Ethereum, and USDP, a fully regulated stablecoin backed by US dollars from Paxos.

“PicPay is one of the most disruptive players in payments in Brazil and our goal is to lead the growth of the crypto market, by eliminating the complexity that is still associated with it and expanding information on the technology, so that everyone can take advantage of this asset class and technology,” said PicPay’s Head of Crypto Bruno Gregory.

This is the first step taken by PicPay to educate consumers about digital assets and show them how they may benefit from this expanding asset class’ potential. Additionally, PicPay is developing a function that would let users pay using cryptocurrency.

Paxos said that it is building a new route for millions of people to safely access digital assets by enabling this experience. Additionally, by providing the USDP stablecoin, PicPay users can now acquire the safest digital dollar on the market.

“PicPay is renowned for its innovative payments solutions, ensuring this partnership will make it easier for Brazilians to use digital assets safely in their daily lives, and this may just bring us all closer to a future of financial markets that work for everyone,” Paxos said.