Delivery App Rappi Deploys Crypto Payments Pilot in Mexico

Rappi, a Colombian delivery app and startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term that offers on-demand deliveries across Latin America, announced today that it launched a pilot program in Mexico to accept cryptocurrency payments.

According to Reuters, the firm has partnered with Bitpay and Bitso, crypto platforms, to launch the pilot service that will let users exchange cryptocurrencies into credits within the app to arrange purchases. “It’s a first step that will allow us to learn and continue incorporating the crypto world into Rappi,” Sebastian Mejia, the President of Rappi, commented in a statement.

Although there are no major details about the pilot, it is known that it will be held exclusively in Mexico. There are no plans as of press time to deploy the service in countries like Brazil, Colombia, Peru and Chile where Rappi provides services.

The delivery app expects to offer digital banking services in Colombia with a credit card program already in place.

Luxury Goods and Cryptos

In similar announcements about crypto adoption, Finance Magnates reported that Australians can now purchase cars from Dutton Garage, a luxury and prestige card dealer using cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. Via Coinspot over-the-counter (OTC) system, Australians can buy cards from Dutton in over 30 different cryptocurrencies.

These cryptos include Bitcoin and Ethereum. In addition, Coinspot OTC does not require public order books, which minimizes exposure to market volatility with large transactions (at least AUD$ 500,000).

Luxury brand Off-White recently announced that it is accepting cryptocurrency payments for its stores in London, Milan and Paris. Off-White has reached $7 billion in revenue (approx.) in 2021.

Bitcoin, Ether, Binance Coin, Ripple Coin, Tether and USDC are some of the cryptocurrencies that may be used for purchasing goods from Off-White.

Off-White is using Lunu payments provider for digital payments. Lunu explains how its clearing system functions on its website to address price fluctuations.