PrivatePay has launched a decentralized xpp crypto currency for consumers. Unlike other crypto currencies, PrivatePay allows users to cash out their coins directly to fiat money. This eliminates the need to deal with third-party exchanges and allows users to pay their bills directly. PrivatePay also features a straightforward user interface and full control over payments. Its mobile application is also in the works.
XP has 3.6 million customers and expects to have 200,000 crypto-active users by the end of the year. The company is the latest major Brazilian fintech player to offer its users crypto trading services. It follows Nubank, MercadoLibre and PicPay, which have all previously launched similar services.
XP coin can be used to reward various activities, including educational and athletic achievements. Tokenizing these activities on the blockchain enables users to monetize their efforts. The video streaming and advertising sectors already use xpp crypto coins. The proof-of-stake consensus algorithm is being used to secure the cryptocurrency.
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