Business

Transfero launches B2C platform for buying and selling cryptocurrencies in Brazil

The platform is aimed at first-time investors; among the cryptocurrencies already available are Bitcoin, Ethereum, and BRZ, a stable coin backed by the Brazilian real issued by Transfero

Transfero launches a cryptocurrencies buy and sell platform in Brazil
Thiago Cesar, CEO at Transfero. Photo: Transfero/Courtesy
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Transfero, an international company of financial solutions based on blockchain technology headquartered in Brazil and Switzerland, launched this Thursday (4) a platform for buying and selling crypto-assets. With the platform, aimed at first-time investors, Transfero expands its portfolio, previously focused on the B2B segment of digital assets.

“The existing platforms are well targeted to traders. Our proposal is to provide an alternative for starting investors. This will be our first foray into the B2C investment market, focusing on the end-user,” said Safiri Felix, director of products and partnerships at Transfero.

The platform debuts with three main operations: deposit, conversion, and withdrawal. The whole idea, according to the company, is to offer an easier investment experience in cryptocurrencies.

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On the platform, the user begins by depositing some amount in Brazilian reais; all deposits are converted into BRZ (stable coin backed by the Brazilian real, and not pegged to the dollar, issued by Transfero, with which it is possible to access international crypto platforms keeping the Brazilian real backing). Then, the user can perform trades on the platform. Among the cryptocurrencies already available are Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDCoin (USDC), USD Tether (USDT), and BRZ.

When the user requests a withdrawal to a bank account, the process will be reversed, i.e. the cryptocurrency will be converted into Brazilian real. No fees will be charged for banking and trading.

READ ALSO: Investment in crypto assets rises in Brazil, but does not yet set off a Central Bank alert

As a way to encourage Brazilians to join the crypto investment market, Transfero will offer 100 BRZ (equivalent to BRL 100) for the first registered users to try out trading on the platform. To register, it is necessary to be 18 years old and a Brazilian resident with a valid ID document. 

Thiago Cesar, cofounder and CEO at Transfero, says that the crypto market and blockchain technology are still seen as being complex by starting investors or those who have never had contact with it. “Our goal is to democratize access to these digital assets and the platform will be the entry for those who want to invest in cryptocurrencies but still don’t know where to start,” he explains.

READ ALSO: BRZ and Solana launch $20 million fund for crypto projects in Brazil

With an eye on Latin America

The launch of the platform for buying and selling crypto-assets is part of Transfero’s expansion strategy, with special attention to the Latin American market. Today, the company operates on four verticals: payment processing solutions based on blockchain and crypto technology; crypto-asset management and custody; the stable coin BRZ; and a news hub focused on the crypto market.

Now, with the new solution in the portfolio, the company hopes to scale the platform to other countries in the region soon, starting with Argentina next year.

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