Tuesday, December 7, 2021
Home Crypto News Market Brazilian Giant 99 To Enable Bitcoin Trading On Their 99Pay App

Brazilian Giant 99 To Enable Bitcoin Trading On Their 99Pay App

- Advertisement -

Coindesk report Brazilian 99Pay wallet users will be able to make commission-free transactions in bitcoin.

Read: FDIC Chairwoman Says US Regulators Are Exploring Policies For Banks to Hold Crypto

Founded in 2012, 99 is a Brazilian company dedicated to car rental, food delivery, and financial services. In 2018, the 99 was acquired by DiDi Chuxing, the Chinese equivalent of Uber. The digital wallet was launched in July 2020 as one of the services in the app, however, the company released the 99Pay standalone app last week.

Read: JPMorgan Explain Why Buying Bitcoin Directly Is Better Than BTC Futures ETFs

The minimum purchase amount for BTC is 10 Brazilian reais and a maximum of 10,000 reais. The head of 99Pay, Maurício Orsolini Filho, said that at the initial stage, users will not be able to pay for trips in Bitcoin as BTC will need to be transferred to fiat first for trips.


He added that the company implemented the BTC trading feature after research that showed potentially high demand for the service in Brazil. According to the company, 81% of Brazilian banks users already know or have heard about cryptocurrencies, and 54% have not yet invested in digital assets, but are interested in such investments.

Read: NFL legend, Tom Brady Offers Bitcoin To Bucs Fan For Return Of Historical Game Ball From 600th Touchdown Pass

Last year, Chinese transportation conglomerate DiDi entered into a strategic partnership with the Digital Currency Research Institute of the People’s Bank of China to accelerate the implementation of the DCEP digital currency electronic payment system.

- Advertisement -
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Largest Bank In Colombia To Offer BTC, ETH, LTC, And BCH Trading Services With Help Of Gemini

Gemini cryptocurrency exchange has entered into a partnership with the largest bank in Colombia, Bancolombia, under which the bank's clients will have access to...

3Space Art Announces the Launch of Its Groundbreaking NFT Platform

Singapore, Singapore, 7th December, 2021, Chainwire3Space Art is thrilled to announce the official launch of its groundbreaking NFT platform that facilitates widespread use of...

Starly Closes Pre-IDO Funding Round of $6.1 Million and Announces Future Plans

Zug, Switzerland, 7th December, 2021, — Starly, the launchpad and marketplace for gamified NFTs, has just closed its pre-IDO funding round with $6.125 million...

Polygon And Wanchain Announce Strategic Partnership, Plan To Launch World’s First Direct Decentralized Layer 2-to-Layer 2 Cross-Chain Bridge

London, United Kingdom, 7th December, 2021, -Polygon and Wanchain are proud to announce a strategic partnership that will drive further adoption of Layer 2...

Gate.io Becomes The Sixth Largest Crypto Futures Platform

Singapore, Singapore, 7th December, 2021, Chainwire Leading global digital asset exchange, Gate.io, has quickly become the sixth largest crypto futures platform in the world, having...

UK FCA May Exclude Crypto Investors From Financial Services Compensation Scheme (FSCS)

Cryptocurrency investors may be excluded from the Financial Services Compensation Scheme (FSCS) in the UK. A proposal from the Financial conduct authority (FCA) is...

India Looking To Classify Crypto As Financial Assets, All Crypto Holders Must Declare Their Holdings Or Face Fines

India is considering appointing its capital markets regulator to oversee cryptocurrencies, according to people with knowledge of the matter told Bloomberg, as authorities look...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.