Paxful, a leading peer to peer (P2P) Bitcoin (BTC) marketplace, recently announced it has formed a strategic partnership with Transfero Swiss AG, the largest digital asset management firm in Latin America and the owner of Brazilian Digital Token (BRZ), a stablecoin pegged to Brazilian Real.
According to Paxful,BRZ’s price is maintained by market experts and shown to be a lot less volatile than Bitcoin. As of August 2020, 35 million BRZ tokens have already been issued.
“The token is built on top of the Ethereum blockchain. It gives Brazilians an alternative to hedge their savings to crypto and shield their assets from local currency devaluation. It also gives them access to international crypto platforms with the potential to increase investments in the global market.”
Paxful also noted that the strategic partnership between it and Transfero enables Brazilian users to buy and sell BTC and USDT with BRZ tokens. Thiago Cesar, CEO of Transfero, further stated:
“Paxful is one of the largest P2P marketplaces for digital assets and has already shown great strength in emerging countries. Having BRZ at Paxful will improve the access of crypto sellers to the Brazilian market.”
Paxful went onto add that the partnership with Transfero is part of the P2P Alliance, which is Paxful’s initiative to unite a powerful network of partners to unlock the full potential of crypto.
