This article is from cointelegraph.com.br and the original article can be read here in Portuguese
CloudWalk, a Brazilian fintech specializing in payment solutions, announced the launch of a blockchain network with an initial capacity of 500 transactions per second, but which is expected to reach 5000 later this year.
The company’s idea is to expand its payment infrastructure using its own stablecoin, backed by the real, the Brazilian Digital Real (BRLC), which, in addition to being exchanged for other cryptocurrencies, allows retailers to receive their sales in two seconds and without charging a fee, which does not happen in the case of payments made by cards from credit card companies.
The BRLC works as a kind of cashback within the company’s platform, allowing stablecoin holders to settle their purchases at any establishment, if they choose the crypto asset when using InfinitePay payment machines.
According to the company’s co-founder, Luis Silva, approximately 130,000 users already use the BRLC, a number that should grow with the new network, which provides for the entry of 50,000 users each month according to fintech.
This is because, in total, the company ended 2021 with 506 thousand customers in more than five thousand Brazilian cities, a number that could grow 100% in 2022 if the company reaches its goal, which also includes the expansion of its operations to the United States and Europe as part of a project to create a global payments network.
In November of last year, CloudWalk also announced a new round of investments in the Series C of US$ 150 million (about R$ 825 million at the time) and is now valued at US$ 2.15 billion, becoming the new Brazilian unicorn, as reported by the Cointelegraph Brazil.
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