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

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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.

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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.

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