The payment and wallet app, PicPay plans to offer crypto trading services to millions of users in Brazil. Partnering with Paxos, pax dollars stablecoin issuer, the payment app company will enable users to sell, buy and hold digital assets.
Initially, Paxos will list its own dollar-pegged stablecoin, Bitcoin and Ethereum; the company further plans to add at least 100 currencies to the list.
Bruno Gregory, head of the crypto at PicPay, stated that the initiative aims to enable more people to reap benefits from digital assets. Besides joining the crypto market, the organization plans to help the crypto community pay with crypto by eliminating the need to exchange it for fiat currency.