PicPay, a Brazil-based payment app, now allows its users to buy, sell and hold cryptocurrencies. PicPay has launched its cryptocurrency exchange service, which will enable trading with Bitcoin and Ethereum, as well as with USDP, the regulated US Dollar-backed stablecoin from Paxos.
The product is operated in partnership with Paxos, a regulated blockchain infrastructure company that will manage the trading and custody of the digital assets. Paxos is regulated by the New York Department of Financial Services. Paxos is also the issuer of USDP, the regulated US dollar stablecoin that will be available on the app.