RIO DE JANEIRO, BRAZIL - Brazilian reais will be converted into bitcoin then into another currency, such as the dollar, and will reach end users through Dock customers such as Vivo (VIVT3.SA) and Natura&CO (NTCO3.SA).
"It will be both a quick and cheap way of making remittances," said Dock head of products and technology Frederico Amaral.
International transfers have been an increasingly coveted niche for fintechs such as Remessa Online and Wise that can sell services more cheaply than large banks.
Created in 2014 after being acquired by the North American venture capital fund Riverwood Capital, Dock . . .