Four years later its foundation in 2015, Transfero experiences a unique moment in its history. After the launch and consolidation of the BRZ, the first Brazilian stablecoin pegged to the real, and investment funds, the company is increasingly positioning as a player that is providing its institutional investors with access to the cryptomarket in a professional manner.
This moment of consolidation culminates in the company’s first event, on Tuesday (12/11), at the Official Residence of the Consul of Switzerland in Brazil, in São Paulo. In celebration of the event, the CEO of the company, Thiago Cesar, granted this interview to PanoramaCrypto. Check the main excerpts of the conversation:
Transfero’s current moment
Thiago Cesar says the company had more modest proposals around 2015/2016. The initial idea was to establish itself as a payment gateway because there was a feeling that the cryptocurrencies would be used mostly for payments.
In 2017, the company shifted the focus to crypto investment management, making several moves in this direction, including the expansion of the headquarters to Switzerland, the team’s professional development and the creation of a trading desk.
Why undertake in Switzerland
The executive says that the expansion to Switzerland came after consulting the Central Bank, which at the time recommended that the company should seek a country with more advanced regulations on cryptocurrencies. In addition, the company wanted to look for a basis for international expansion, since the cryptoassets have a global approach.
In 2018, the company made a move to Liechtenstein and increased its brokerage operations with cryptocurrencies. This movement culminated in the creation of the BRZ, the first Brazilian cryptocurrency pegged to the real. At the other end, the company made a move to professionalize investments with the creation of investment funds based in Bahamas.
Brazil and the cryptocurrencies
Thiago considers that the country has evolved positively regarding the crypto regulation. The institutional relationship with federal entities and Brazilian regulators shows that the country is seeking to update itself in this area.
Brazil will always follow the foreign model. For example, the regulatory sandbox is one of the lessons learned from foreign regulations.
Money laundering and terrorism financing
In Thiago’s perspective, the subjects related to money laundering are part of a global debate. And he remembers that this subject does not specifically refer to the cryptocurrencies. Thus, regulation in more mature jurisdictions has been evolving to make the crypto companies’ processes resemble that of large financial institutions.
However, we cannot fall to recall that every crypto broker will have to clear a previous step before the money enters the bank.
Crypto as a means of payment
According to Cesar, there is still a possibility that cryptocurrencies will be used as a means of global payment, as is the case with currencies created by major technology players, such as Libra. He remembers that each cryptocurrency has a specific purpose. He also sees the possibility of cryptocurrencies changing the reality of the current financial system by tokenizing assets already traded in the traditional financial market.
The bitcoin is consolidating as a store of value, but other crypto can play the role of a global means of payment. And they will insert many people into markets where before they could not participate, such as real estate investment funds, the art market and others.
BRZ marking its position with traders
The BRZ, according to the executive, is asserting itself as an operating tool in the cryptomarket, giving traders the possibility to reflect their investment positions in real. Cryptocurrency trading volumes already exceed half million reais a day at some brokers.
And it goes beyond that. Transfero is discussing with government members possibilities for the use of this stablecoin. In addition, there have already been expressions of interest from major retail players in Brazil to use the BRZ as a means of payment
Thiago Cesar explains that Transfero’s investment funds, in the funding phase, give institutional investors access to a new asset class in a professional manner.
The funds open an interesting window of opportunity for family offices, brokers, cryptoassets funds and other institutional players to invest in the cryptomarket.
Event at the Swiss Consulate
The executive is presenting on Tuesday (12/11) Transfero’s projects to a selected audience of investors and guests at an event at the Official Residence of the Consul of Switzerland in Brazil.
This event is important to strengthen Transfero’s partnership with the Swiss government and maintain a productive dialogue with the canton of Zug, where the company is located.