PicPay, one of Brazils largest digital payments apps, has restarted its cryptocurrency trading services after an 18-month break.The company paused crypto operations in 2023 because the rules in Brazil were unclear.
Regulators have since made the laws more solid, giving businesses like PicPay the green light to safely offer crypto again.Today, more than three million Brazilians report having crypto, and the country now ranks in the top ten worldwide for digital money use, according to Brazils central bank.The bank reported that Brazilians moved over $19 billion in cryptocurrencies in 2022, with most cross-border activity relying on stablecoins linked to the US dollar.
For many, crypto has become a normal tool for saving money and sending payments.PicPay users can now buy and sell twelve different cryptocurrencies, including Bitcoin and Ethereum, on the app.
PicPay offers price alerts and zero fees on trades above 100 reais when starting.PicPay Brings Back Crypto Trading as Brazil Embraces Digital Money.
(Photo Internet reproduction)The company plans to roll out access step-by-step, prioritizing user security and regulatory compliance.
Company officials say that strong customer demand pushed them to bring crypto trading back.Over a million PicPay users tried crypto trading in the services first seven months before the pause.
The company doesnt just see cryptocurrencies as a passing trend, but as a lasting part of how Brazilians use money.Brazil set out its own local rules for the crypto sector with a law passed in late 2022, aiming to protect users and support responsible innovation.This local approach puts Brazil among a handful of countries shaping the digital finance world from the ground up.
PicPays decision to resume crypto trading shows how both market demand and clearer rules are quickly shifting Brazils financial landscape.More Brazilians now use digital assets as part of their daily lives, and businesses are adapting.
With strong official oversight and rising adoption, Brazils digital finance market could become an example for other emerging economies.