Users of the Brazilian 99Pay wallet will be able to make transactions in bitcoins without commission and receive cashback.
Founded in 2012, 99 is a Brazilian company dedicated to car rental, food delivery and financial services. In 2018, the company 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.
The minimum purchase amount for BTC is R $ 10, and the maximum is R $ 10,000. The head of 99Pay, MaurÃcio Orsolini Filho, said that at the initial stage, users will not be able to pay for trips in BTC – first, the cryptocurrency will need to be transferred to fiat.
He added that the company implemented the BTC trading feature after research that showed potentially high demand for the service. According to the company, 81% of users of Brazilian digital banks already know or have heard about cryptocurrencies, and 54% have not yet invested in digital assets, but are interested in such investments.
Last year, Chinese transportation conglomerate DiDi entered into a strategic partnership with the Digital Currency Research Institute of the People’s Bank of China (PBC) to accelerate the implementation of the DCEP digital currency electronic payment system.
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