Bitso, the leading cryptocurrency platform in Latin America, announced its results for the last quarter in Brazil. The company tripled its local business in volume and revenue between June and August.
The result was leveraged by the increased interest of Brazilians in the so-called digital dollar (USD stablecoins), which saw a 70% growth in the number of users during this period.
To meet the increased demand for stablecoins and mark Bitso’s expansion in Brazil, the company has just launched a promotion that will give digital dollar cashback to new users.
Until October 31, new customers who purchase the equivalent of R$500.00 in digital dollars (USD Stablecoins) in their Bitso wallet and activate Bitso+, will earn 10 digital dollars, a digital currency equivalent to the US dollar.
“Bitso is very focused on developing products that meet what customers are looking for in Brazil. Market uncertainty cycles are important moments in which we learn a lot about user behavior and needs. It is at this time that we focus our efforts and investments and direct resources to where the market needs it most”, comments Thales Freitas, CEO of Bitso in Brazil. “We have noticed that users are increasingly valuing the ease of buying crypto at super competitive rates at Bitso. Our good results over the last few months show that we are on the right track and are able to help customers when they need it most.”
A recent survey by Bitso among its customers showed that more than a quarter of users turn to cryptocurrencies as a way to hedge against inflation.
In this sense, stablecoins that have their value pegged to the dollar are increasingly standing out as an attractive option for those who want to enter the crypto world to benefit from the transparency and security of cryptocurrencies and, at the same time, have greater stability. given the financial uncertainty and inflationary variation.
The Bitso Cripto Back promotional action is already in effect and is valid until 10/31/22. Terms and conditions are available at this link.