Rappi, who seems to want to become a super app tailored for LatAm, has released yet another project.
The Colombian startup is launching a pilot project that allows its users to pay with cryptocurrencies within their app. Currently, the pilot is being developed in Mexico.
This project is being carried out through an alliance between Rappi, Bitso and Bitpay. Bitso is a Mexican company that, in addition to being a cryptocurrency exchange, offers a wallet for users, while Bitpay is an American service that allows payments to be made with crypto.
Rappi’s interest in developing this pilot is mainly due to the rapid regional adoption of cryptocurrencies in Latin America, particularly in countries like Mexico. According to data from the newspaper El Economista, currently 12% of the Mexican adult population owns some kind of cryptocurrency. This makes it the ninth country with the highest rate of cryptocurrency possession in the world. According to a press release, Rappi seeks to make the use of these crypto assets easier and more accessible for users.
During the first phase of the pilot test, a product will be built that allows consumers to connect their digital wallets to the app and convert their cryptocurrencies into Rappi Credits. In this way, they will be able to buy with crypto in any of the company’s business lines: RappiMall (its e-commerce solution); RappiFavor (messaging); RappiAntojo (purchase products in any store); RappiMobility (mobility options); RappiEntertainment (games, music, events and more); and Rappi Travel (trips).
Before this service is extended to the rest of the region, we will have to wait for the results of the pilot in Mexico. It is a great laboratory for the Colombian company, as it is currently present in more than 70 Mexican cities and has more than 50,000 registered couriers throughout the country.
You may also be interested in: Square and Hard Yaka invest $15M in Movii, a Colombian crypto products company
