Transfero Swiss AG has entered into a strategic partnership with Paxful, a peer-to-peer (P2P) crypto marketplace, to enable Brazilian users to buy and sell Bitcoin (BTC) and Tether (USDT) with BRZ on the platform. The price of BRZ is kept stable by the market and is much less volatile than Bitcoin. By August 2020, 35 million BRZ tokens had already been issued.
The BRZ token, type ERC-20, was developed from the Ethereum blockchain. It allows Brazilians to protect their savings by exchanging them for crypto and thus shielding their assets against a devaluation of the local currency. Token users and holders gain immediate access to various international crypto platforms, considerably increasing their potential to diversify their investments in the global market.
“At Paxful, we strive to offer financial freedom to everyone in the world and we admire that Transfero is doing the same. Brazil is a rapidly growing crypto market and will greatly benefit from this partnership”, said Ray Youssef, CEO and cofounder of Paxful.
BRZ at Paxful will improve access to the Brazilian market
Brazil is the fifth largest country in terms of cryptoassets owners, presenting a vast field of opportunities in this segment. Since the government does not interfere in the regulation of digital currencies, Brazil’s leading cryptocurrency companies have created a self-regulation code, with the purpose of preventing illegal activities and protecting their users. The change will help drive the adoption of digital money in the country, which is already on the rise. Key industry players in the region expect Brazil’s crypto market to reach US$100 billion by the end of 2020, becoming the largest cryptocurrency market in Latin America.
“Paxful is one of the largest P2P marketplaces for digital assets and has already shown great strength in emerging countries. Having BRZ at Paxful will improve the access of crypto sellers to the Brazilian Market”, said Thiago Cesar, CEO of Transfero Swiss AG.
This partnership with Transfero is part of the P2P Alliance, a Paxful initiative to form a robust network of partners to unlock the cryptocurrency market.