Brazilian car-hailing giant 99 announced: Enable digital wallet 99Pay for Bitcoin (BTC) transactions

The company announced on Tuesday that the digital wallet of Brazil’s ride-hailing company 99 99Pay Will support buying and selling on its platformBitcoin

Starting from November 3rd, 99Pay users will be able to perform commission-free transactions with a minimum purchase amount of BRL 10 and a maximum purchase amount of R$10,000 (equivalent to US$1,800).

中國租車公司滴滴旗下的 99Pay 表示,該平台還將提供Bitcoin現金返還促銷活動。

The initiative came at a time when Brazilians’ interest in cryptocurrencies is rapidly increasing and demand for crypto services.According to data released by the country's Central Bank (BCB) in October, as of 2021, Brazilians have received US$4.27 billion so far.In terms of legislation, the Brazilian Congress plans to discuss a bill to regulate companies operating in the cryptocurrency field.
The Brazilian car-hailing giant 99 announced: The digital wallet 99Pay is enabled for Bitcoin (BTC) transactions.

Brazil 99 is a Hailing, food delivery and financial services company, founded in 2012. It was acquired by Didi Chuxing, the equivalent of China’s Uber, and the 99Pay platform A $1 billion in 2018 The transaction has 20 million active users, according to the company.

99 launched its digital wallet in its app in July 2020.The company launched a standalone application for 99Pay last week.

Maurício Orsolini Filho, director of 99Pay, told CoinDesk that users will not be able to use Bitcoin to pay for 99's travel expenses because encrypted currency must first be converted to legal tender.

Orsolini Filho added that the company implemented the Bitcoin transaction function after research conducted at the company's request showed strong potential demand for the service.According to data, 81% of Brazilian digital bank users already know or have heard of cryptocurrencies, while another 54% of users have not invested in digital assets but expressed interest in entering the market.

In 2020, Didi told CoinDesk that it is forming a working group to design and run a trial of the People's Bank of China Digital Currency (CBDC) on its transportation platform.

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