AstroPay adds crypto to payment solution based in Latin America

The option is currently available in selected emerging markets and there are plans to roll it out further.

AstroPay has launched a cryptocurrency offering to address increasing demand from customers, an army of more than five million across the globe.

The online payment solution is giving those who want to explore the world of digital assets the option to buy and sell cryptocurrencies via mobile app and web. Users can trade without paying any purchase, trading, transfer, or maintenance fees.

Mikael Lijtenstein, Chief Executive Officer at Astropay, said: “We are thrilled to launch our cryptocurrency offering that puts us at the forefront of international payment solutions. With this offering we want to serve younger users who are more inclined to trade cryptocurrencies as they are digital natives.

“AstroPay has been operating with cryptocurrencies for over two years and we decided that now is the right time to offer our users the option to trade these digital assets.”

“The launch is testament to the business’ commitment to continue supporting merchants and users by adopting the latest technological innovations. The cryptocurrency market’s size has expanded exponentially since Bitcoin was launched a few years ago and we believe the sector is poised for further exponential growth, especially driven by the new Web 3.0.”, Lijtenstein added.

Users can acquire Bitcoin, Bitcoin Cash, Litecoin, and Cardano using local currency or USD, and store them on AstroPay’s digital wallet. The option is currently available in selected emerging markets and there are plans to roll it out further.

Latin America quickly grew its interest in cryptocurrencies mostly because of monetary instability in many countries, including Venezuela, Argentina, and even Brazil.

Founded in 2009, AstroPay uses more than 200 payment methods including Banco do Brasil, Caixa, Bradeso, Boleto, PhonePe, Airtel, Google Pay, Visa and Mastercard.

LATAM has become a very attractive market for payment solutions firms and Forex trading platforms.

For Paysafe, this latest investment is a strategic foothold in Latin America as the firm looks to expand its eCash business in the continent.

Paysafe has just acquired SafetyPay shortly after the takeover of Peruvian platform PagoEfectivo as part of its appetite for alternative payment methods and online banking in Latin America.

In late 2021, Finveo, a multi asset brokerage company licensed and regulated by the Capital Market Authority of Montenegro, partnered with PayRetailers in order to better reach the LATAM market.

The payment processor firm is headquartered in Barcelona, Spain, but is very much on the ground in Latin America, with full knowledge of the diversified means of payments in the region. All these methods are provided via a single API.