The trend may have kicked off in El Salvador with Bitcoin becoming legal tender, but the mainstream adoption of digital assets is only accelerating across Latin America.
We’re excited to share that Paxos Crypto Brokerage now powers the digital asset experience on Monibyte, a digital wallet app from IMPESA, a Costa Rican fintech and software company. With Monibyte, Costa Rican consumers will be able to buy, hold and sell leading cryptocurrencies. The infrastructure that Paxos provides to IMPESA allows Monibyte users to purchase digital assets with Costa Rican Colons (CRC), while also providing educational content, price movements, and historical market data. IMPESA manages the front-end customer experience while Paxos handles the complexity of crypto on the back end.
The world of digital assets is complicated, especially for consumers just getting acquainted with the new and evolving ecosystem. That’s why it is critical that crypto is available to global consumers via the local services they use and trust. With its regulated, plug-and-play solutions, Paxos makes it safe and easy for local leaders like IMPESA to quickly enable crypto. Monibyte users can experience crypto for the first time within an app that they already rely upon. This kind of integration makes it easier than ever before for consumers to tap into the potential of digital assets.
With IMPESA’s launch, Paxos crypto infrastructure now powers more local LatAm fintechs than any other company.
- Mercado Pago in Brazil: We partnered with Mercado Libre to bring crypto and our regulated stablecoin USDP to millions of Brazilian. This was the first time US dollar-backed tokens were available in a consumer wallet.
- Prex in Uruguay: Nearly a million Uruguayans can get crypto via Prex powered by Paxos.
- Grupo Gente in Costa Rica & El Salvador: Paxos Crypto Brokerage and its integration into Grupo Gente’s Multimoney app makes it simple for people in Costa Rica and El Salvador to get crypto with their local currency.
Paxos is enabling the trustworthy movement of any asset at any time. We’re on a mission to create an open, accessible economy – and we achieve that mission by making it easier for anyone to tap into the digital financial system. That starts with bringing blockchain solutions to the apps and products that people use. We’re only going to accelerate mainstream consumer adoption with our global integrations this year.