Cross-border finance FinTech AstroPay received a payments license in Brazil.
The license from the Brazilian central bank allows the company to offer its multicurrency digital wallet in Latin America’s biggest market, AstroPay said in a Thursday (Jan. 30) news release.
“This expansion marks a pivotal milestone for AstroPay as we align our services with Brazil’s regulatory framework and deliver compliant, secure and innovative financial solutions,” AstroPay CEO Marc Sacal said in the release. “By working closely with local and international regulators, we aim to empower individuals and businesses globally to take control of their finances. This isn’t just about payments — it’s about building a foundation of trust and efficiency to create meaningful opportunities for users in Brazil and beyond.”
Among the company’s offerings is its “Pix for Foreigners” — a reference to Brazil’s instant payments system — that lets international visitors make instant payments in Brazilian reais, according to the release. AstroPay’s fee structure lets travelers spend $2,000 on a trip to Brazil to save up to 1,000 reais compared to traditional credit cards.
AstroPay introduced the multicurrency wallet last month, allowing users to store, manage and exchange multiple currencies and helping them simplify international travel and work. The company also received an electronic money institution (EMI) license in Denmark, and it is operational in other European countries.
Meanwhile, PYMNTS wrote last month about the evolution of Pix from a local service to a global payments player.
Statistics from the country’s central bank showed that Pix’s use in retail payments is growing online and in stores. On Black Friday, for example, there were 239 million transactions, an almost 121% increase from the same day a year ago.
That uptick makes sense given the plugged-in nature of Brazil’s population. PYMNTS Intelligence found that two-thirds of the country’s 215 million people owned a smartphone and 92% had access to at least a 4G network, showing “that the majority of the population has the infrastructure in hand, quite literally, to remain firmly tethered to the digital world,” PYMNTS wrote.