As Bitcoin Business Grows, 99Pay Uses More Cryptocurrencies

Bitcoin business at 99Pay grew 68% in the past semester, signaling to the fintech that its customer base is interested in the largest digital currencies in the world, even with a decline at the beginning of the year. According to data provided by the company to the live coinsthere are 7 million active users per month.

Since 2021, 99Pay has launched the initiative to be able to buy Bitcoin for its customers through its app. This after a survey among its customer base, which showed which features they would like to see in the app.

Linked to 99, a technology company and branch of the global company Didi Chuxing (“DiDi”), this company operates in Brazil with mobility, payment and delivery services.

Bitcoin business grows 68% at 99Pay and the company uses new cryptocurrencies

99Pay is celebrating its two year anniversary in Brazil and decided to launch more news for its customers in Brazil. One of these is the ability to purchase gift cards for streaming platforms and games, further extending the goal of involving C- and D-grade people in financial transactions.

What stands out most in the company’s announcement, however, is that Bitcoin business has grown 68% in the past semester, extending 99Pay’s support for the industry.

“This semester there was a 68% growth in the volume of Bitcoin traded on 99Pay. In addition, the number of users who bought Bitcoin in the wallet increased by 72%. The volume of transactions and the demand for information for this type of transaction also contributed to the expansion of the offer.”

So as of now, financial application customers can buy and sell 4 more cryptocurrencies, namely Ethereum, USDC, Solana and Mana. Among the new options stand out is USDC, a USD-pegged stablecoin and the first to receive support through the app.

However, the custody of cryptocurrencies is responsible for 99Pay, which does not yet release any withdrawals or deposits from cryptocurrencies in their initial stage of acceptance.

Customers can invest BRL 1.00 and there is no cost

Those who have not yet exposed themselves to Bitcoin, mainly due to lack of knowledge, will find 99Pay a seemingly easy way to get to know the industry.

In a note, César Trevisan, head of Cryptoactives at 99Pay, emphasizes that the focus of the service is precisely to present the universe of cryptocurrencies as an investment, including small amounts.

“Crypto transactions on 99Pay are intended to provide this universe with the ability to invest in small amounts. We want to encourage the user by breaking down barriers with simple and intuitive mechanisms like 99Pay.”

For example, BRL 1.00’s company’s customers can buy in Bitcoin without having to pay more for the acquisition.

After 99Pay arrived in this sector, other financial companies such as Mercado Pago, Nubank and PicPay came up with similar options, showing that Bitcoin adoption is growing in Brazil.