- Dash Investment Foundation invests in Bitfy.
- Specifically, Bitfy is Latin America’s first non-custodial, multi-purpose crypto wallet.
- Bitfy’s partnership with Cielo allows over 1.5 million establishments to accept crypto, like Dash, as a form of payment.
Dash Investment Foundation (DIF) — the world’s first memberless and ownerless investment fund, happily announces its investment in Latin America’s first non-custodial, multi-purpose cryptocurrency wallet — Bitfy.Bitfy just reached completion on its first round of Series A funding. In detail, the funding was led by an investment from DIF for an undisclosed amount requested from Bitfy. Since Bitfy’s began its journey in 2019, the firm has processed more than R$170 million in transactions. Out of this R$45 million in the last five months alone.
To highlight, Bitfy added support for additional cryptocurrencies in Q1 of 2021. To name them, Ethereum (ETH), Ripple (XRP), and now, Dash. Users on the Bitfy platform can now pay with Dash at Cielo point-of-sale devices across Brazil. Presently, Cielo is the largest payment provider in the country.
This partnership with Cielo allows Bitfy to provide crypto payments in over 1.5 million establishments. In addition, Bitfy’s platform also allows users to redeem store vouchers from over 70 partners. To name a few, these include iFood, Rappi, Evino, Netshoes, McDonald’s, and Outback.
CEO of Bitfy, Lucan Schoch says,
The Dash Investment Foundation helps us in our main objective, which is to advance the use of cryptocurrencies in Brazil and our future international expansion roadmap. In a few years, we want to be operating in several countries offering a safe and simple solution for the use of cryptocurrencies as a means of payment and investment.
He also adds that with this investment, Bitfy’s can expand and accelerate in terms of new services as well as the expansion of the digital wallet. Schoch aims to see Bitfy host more than 200,000 customers this year. This is a remarkable feat considering the platform’s current userbase is at 60,000.
Meanwhile, the supervisor of Dash Investment Foundation (DIF), Rodrigo Ambrissi also shares his delight. He says that DIF is thrilled to add Bitfy to its growing portfolio and that he looks forward to working with Bitfy. Together, he hopes to boost cryptocurrency adoption in Brazil. To add emphasis, he mentions Dash’s significant growth in the nation and how Bitfy will further amplify its use.