Brazilian digital payments startup PicPay is going all-in on the cryptocurrency space, launching a series of Web3-focused services.
The company announced the formation of the Crypto and Web3 business unit focused on developing financial services and solutions to connect the crypto ecosystem and the mainstream financial world. PicPay is expected to launch the cryptocurrency exchange in August and will initially support Bitcoin, Ethereum and Paxos USDP stablecoins.
There are plans to support more tokens in the future, reaching 100 tokens by the end of the year. PicPay has announced its intention to launch a stablecoin Brazilian Real Coin (BRC) pegged 1:1 to the price of Brazilian Real. PicPay will also launch a service related to NFTs and the Metaverse, but did not disclose details.