- Satoshi Tango and Depay: two fintech leaders join forces to enable cryptocurrency payments via QR codes in stores across Argentina, Brazil, Colombia, and Peru, connecting wallet funds with local currency transactions.
- Boosting the everyday use of cryptocurrencies: Depay’s interoperable infrastructure removes traditional barriers, ensuring instant and secure transactions while strengthening the mass adoption of cryptocurrencies in Latin America.
In a significant step towards integrating cryptocurrencies into the everyday economy, fintechs Satoshi Tango and Depay announced a strategic alliance that will enable cryptocurrency payments in stores across Argentina, Brazil, Colombia, and Peru. This collaboration centers on Depay’s interoperable infrastructure, a solution that connects payment systems via QR codes and eliminates traditional barriers between the crypto world and everyday payments.
How the integration between Satoshi and Depay works
The agreement will allow users of Satoshi Tango, a well-known cryptocurrency exchange, to use their funds for local currency transactions via QR codes at any store that accepts this payment method. Depay’s interoperable infrastructure facilitates the connection between different payment systems in the region, ensuring that each transaction is fast, secure, and efficient.
According to Joaquín Fagalde, CEO of Depay:
“Interoperability is key to democratizing access to new technologies. With this alliance, we bring cryptocurrencies into people’s everyday lives, making them more useful and accessible.”
Meanwhile, Matías Bari, CEO of Satoshi Tango, highlighted:
“We are excited about this alliance, which significantly expands the possibilities for our users. Now, thanks to Depay, we can integrate QR payments, meaning crypto can be used at any compatible point of sale in the region.”
Expansion of QR use in Latin America
Latin America has experienced rapid growth in the use of QR payments. In Argentina, interoperability implemented by the Central Bank has fostered widespread adoption, while in Brazil, the Pix system has achieved 90% penetration in businesses. This environment has created an ideal ecosystem for alliances like that of Satoshi Tango and Depay to make a significant impact.
Depay’s interoperability allows virtual wallet users to make instant transactions in local currency. This advancement not only simplifies payments but also strengthens security, a key aspect for cryptocurrency users.
Fagalde added:
“Our infrastructure ensures that each transaction is reliable and efficient. Security has always been a priority for Depay.”
Benefits for users and merchants
The integration of Depay with Satoshi Tango not only facilitates the everyday use of cryptocurrencies but also reduces risks associated with handling cash or physical cards. Additionally, merchants can expand their customer base by accepting cryptocurrency payments without needing to make complex changes to their systems.
This advancement is a crucial step towards the mass adoption of cryptocurrencies in the region. According to Bari, the alliance will help more people perceive cryptocurrencies as practical tools for daily life, not just as investment assets.
An integrated digital future
With this alliance, Latin America is moving closer to an integrated digital economy, where cryptocurrencies connect with the real economy. Depay also announced the launch of new products for virtual wallets, which promise to have a global impact. This type of innovation strengthens the commitment of both fintechs to transform the way people and businesses interact with money.