Friday, November 26

Transfer buys CryptoBRL with focus on strengthening stablecoin paired with real | Bitcoin Portal

Creator of BRZ (Brazilian Digital Token), the Transfero announced on Wednesday (10) the purchase of CryptoBRL (CBRL), another stablecoin paired with the Real.

According to the company’s statement, the deal aims to strengthen BRZ, consolidate the stablecoin market in Brazil and provide greater access for Brazilians to the global cryptoactive market.

cBRL was created at the beginning of last year by a group of companies and exchanges, having been developed using the ERC20 standard from the Ethereum network.

BRZ, created in 2019, was the first Brazilian stablecoin in circulation and today, according to Transfero, it is the largest stablecoin not pegged to the dollar.

At the beginning of the month, the Transfero announced the launch of its platform for buying and selling cryptoactives. Specializing in financial solutions based on blockchain technology, headquartered in Crypto Valley (Switzerland), the company has a presence in Brazil and in eight other countries.

Global Market Access

According to Thiago Cesar, CEO of Transfero, the movement is part of a plan to give Brazilians more access to the crypto universe.

“Today there are more than ten thousand cryptocurrencies and tokens in the world and most of them are not directly available to the Brazilian user. We created the BRZ to lessen friction and give more access to the global cryptoactive market. The acquisition of cBRL aims to unite the Brazilian cryptoactive community”, says Cesar.

To help customers who have CBRL, the company has prepared a question and answer guide:

I have cBRL, what should I do?
The national brokerage BitPreço will offer the possibility for cBRL holders to exchange their tokens for BRZ.

Will cBRL cease to exist?
Yes, as of December 31st, all cBRL tokens will be unusable.

How to change cBRL for BRZ?

Just access the BitPreço exchange and convert to BRZ in a 1:1 ratio. Other platforms will be able to offer the service until December 31st.

What is the deadline for the exchange?

All cBRL token users must perform the BRZ exchange by December 31, 2021.

Am I required to exchange CryptoBRL for BRZ?
CBRL holders who intend to guarantee the transactional utility must exchange the token for BRZ within the established deadline.

Where can I use BRZ?

BRZ has a huge liquidity network and can be traded on Transfero, FTX, BitPreço,, Bittrex, ZBX, NovaDAX, BigONE, BitForex, VirgoX platforms and on a number of decentralized platforms.

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