COINQVEST, nTokens to introduce crypto payment processing to businesses in Brazil

COINQVEST allows Brazil-based merchants to accept payments in BTC, ETH, XLM, and other major cryptocurrencies or stablecoins. Merchants can then convert in real-time and deposit Brazilian Real to their bank accounts. nTokens provides payment rails on the novel instant payment network PIX. nTokens is the first Brazilian Real anchor provider on the Stellar Network blockchain and provides services to move funds between banks and crypto wallets. Their product provides instant and programmable conversion between digital and traditional representations of BRL. Brazil-based enterprises can now enjoy the advantages of a digital currency system and deposit BRL into their banks.

COINQVEST’s platform, with adoption of the nTokens, brings immediate benefits to Brazil-based merchants ease of use and reduced transaction costs (compared to credit card processors or PayPal), quicker settlement times, fiat bank deposits, as well as secure and irreversible payments without chargebacks, and offer their customers flexibility to pay with cryptocurrencies alongside their current checkout system.

With the recent successful rollout of the Brazilian Central Bank’s PIX, an instant payment system, digital payments have the potential to grow at a rapid rate. Merchants and consumers can both have faith that digital payment systems will only grow and become more commonplace in Brazil. They will look to digital payment processors such as COINQVEST and nTokens.