PicPay Relaunches Cryptocurrency Trading Platform
Fintech company PicPay has announced the resumption of its cryptocurrency trading activities, including Bitcoin, after a year and a half pause. The company cites regulatory advancements in Brazil and increased market maturity as key factors in its decision.
The move underscores PicPay’s long-term vision for the digital asset sector and marks a new phase in its digital business strategy. The company aims to cater to its customer base, who have expressed a strong desire for the return of the service.
“In 2023, we decided to pause operations due to regulatory uncertainty. Since then, the market has evolved, regulation has advanced, and this is reflected in customer demand, who remain engaged and have been requesting the return ever since. Increasingly, we see crypto assets occupying a relevant space in the portfolios of Brazilians and becoming part of people’s financial routines,” says Anderson Chamon, co-founder and executive vice president of New Business at PicPay.
Available Cryptocurrencies and Features
The platform relaunches with 12 tokens available for trading:
- Bitcoin (BTC)
- Ether (ETH)
- USD Coin (USDC)
- Uniswap (UNI)
- Chainlink (LINK)
- Litecoin (LTC)
- Polygon (POL)
- Bitcoin Cash (BCH)
- Aave (AAVE)
- Solana (SOL)
- Ripple (XRP)
- Dogecoin (DOGE)
The trading experience is integrated into the PicPay app, offering a user-friendly interface. The product will be rolled out gradually to users.
Key features include price alerts, which notify users when a cryptocurrency’s price fluctuates within a specified range (e.g., 5% or 10%). Additionally, buy and sell transactions exceeding R$100 will have zero fees during the initial launch phase.
Long-Term Strategy
PicPay emphasizes that the return to cryptocurrency trading is not a short-term initiative but an integral part of its strategy to expand its portfolio of financial and non-financial products. The company believes that the high user demand since the product’s initial launch in 2022 demonstrates the relevance of digital assets to its customer base.
“In less than seven months, we already had more than one million users trading crypto in the app. This shows how much the topic resonates with the profile of our customer — open to innovation and accustomed to digital solutions in their daily lives — and reinforces that our product does not respond to a trend, but to a structural change in the financial system,” Chamon stated.
Looking ahead, PicPay plans to expand the number of available tokens and develop features to enhance the user experience.
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