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Coindesk report Brazilian 99Pay wallet users will be able to make commission-free transactions in bitcoin.
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Founded in 2012, 99 is a Brazilian company dedicated to car rental, food delivery, and financial services. In 2018, the 99 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.
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The minimum purchase amount for BTC is 10 Brazilian reais and a maximum of 10,000 reais. The head of 99Pay, Maurício Orsolini Filho, said that at the initial stage, users will not be able to pay for trips in Bitcoin as BTC will need to be transferred to fiat first for trips.
He added that the company implemented the BTC trading feature after research that showed potentially high demand for the service in Brazil. According to the company, 81% of Brazilian banks users already know or have heard about cryptocurrencies, and 54% have not yet invested in digital assets, but are interested in such investments.
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Last year, Chinese transportation conglomerate DiDi entered into a strategic partnership with the Digital Currency Research Institute of the People’s Bank of China to accelerate the implementation of the DCEP digital currency electronic payment system.