Crypto platform with the largest number of currencies and tokens in the world is Brazilian

By Paulo Alves

Amid a fierce battle between national and international cryptocurrency exchanges for the largest share of users in Brazil, startup LoopiPay, a newcomer to the market, has just become the world’s leading platform in terms of the number of assets available for purchase.

The fintech company announced that it already offers 1,960 cryptocurrencies in its portfolio, while MEXC ranks first in the CoinMarketCap aggregator’s ranking with 1,496 cryptocurrencies.

This advantage is based on a business model that differs from traditional crypto brokers: Instead of maintaining its supply book, LoopiPay leverages the abundant liquidity of the decentralized financial industry (DeFi).

The company acts as a bridge between the banking network and the DeFi world without taking custody, allowing it to list many crypto assets.

“Adding new tokens is a commitment we have to our users. We are always looking for new cryptocurrencies that make sense to the community. Our goal is to simplify the user experience of Web3, and the fact that we offer not only traditional tokens but also cryptocurrencies that are complex to buy and sell is in line with our goal,” explained Ricardo Bechara, CEO of LoopiPay.

The goal, Bechara said, is to provide easier access to game coins, for example.

Instead of setting up an exchange account, depositing Reals, and only then acquiring a token such as Axie Infinity (AXS) and transferring it to the digital wallet, the user can make a payment with Pix and receive the digital asset directly in MetaMask.

Founded in May 2022 by Cesário Martins, Felipe Brasileiro, and Bechara, who brought Rappi to Brazil in 2017, the startup was already established with contributions from Monashees Canary and OneVC, among other venture capital funds. The amount of funding was not disclosed.

With information from InfoMoney

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