Transfero’s platform has six cryptocurrencies, including bitcoin. Photo: Michael Wuensch.
A Transfero, which until now had a focus on cryptocurrencies for the B2B segment, is now entering retail. For this, it launched Transfero Crypto, a platform for buying and selling digital currencies. But the plan is to offer the service to other countries in Latin America in the coming months, in line with its strategy in the region.
The platform is on a website that aims to attract beginners with a simple experience and starts with six cryptos. This includes, for example, BRZ, your own company currency.
The company was the first to issue a stable currency (stablecoin) linked to the real, the BRZ. Transfero, formerly Transfero Swiss AG, is owned by Brazilians, but is located in the Crypto Valley (Switzerland), a region that encourages the installation of cryptocurrency and blockchain companies. In total, it operates in eight countries.
The other cryptocurrencies on the Transfero platform are bitcoin (BTC), ethereum (ETH), solana (SOL), USDCoin (USDC) and USD Tether (USDT). “The creation of the platform will be the gateway for those who want to invest in cryptoactives, but still don’t know where to start”, says Thiago Cesar, co-founder and CEO of Transfero.
The platform includes three main functions, which are deposit, convert and withdraw. In addition, it will not charge fees for banking transactions and cryptoactive trading.
Transfero wants to attract newbies in cryptocurrencies
User experience is often one of the barriers for those looking to buy cryptoactives. So much so that one of the reasons for the success of cryptocurrency index funds, the ETFs, which are on the B3 exchange, is the greater ease of accessing them.
Large banks such as Itaú and Banco do Brasil offer shares of these funds to their clients through their own platforms. Thus, it was not necessary, for example, to open a brokerage account, send documents and learn how to buy or sell.
Transfero is offering 100 BRZ, that is, R$ 100, to the first users who register on the platform. For this, you must be 18 years old and resident in Brazil with a valid identification document.
Anyone who signs up for this Basic profile will have a transfer limit of 10,000 BRZ or R$ 10,000 weekly. To be entitled to limits above these values, the user will have to submit more documents.
In the Level 1 profile, the limit is R$150,000 per week and unlimited for the BRZ token. And above these values, the user needs to talk to the company.
Transfero develops payment processing solutions based on blockchain technology and crypto, as well as cryptoactive management and custody. It also has BRZ and an education platform, Panoramacrypto.