Rappi, one of the largest delivery services in the Americas region, has decided to include cryptocurrency in its app.
The company last year reached a valuation of more than $5 billion in a Series G funding round. It said it will assist customers in using crypto as a payment method and purchasing Rappi credits. These Rappi credits can be used to pay for delivery services provided in the app.
The company originated in Colombia, became a Colombian unicorn in 2018 then has a presence in most of Latin America, including Mexico, Costa Rica, Colombia, Peru, Ecuador, Chile, Argentina, Uruguay and Brazil . However, Rappi has announced that this new experimental project will be limited to Mexican users and has not mentioned scalability.
The adoption of cryptocurrencies is aimed at finding innovations related to the way of payment for users to interact with the application. Regarding the importance of innovation and cryptocurrency to the future of the company, Sebastián Mejia, president of Rappi has stated.
“Innovation is one of Rappi’s main missions. We are interested in studying the crypto world and we believe that the future is the intersection of the crypto world with non-crypto companies.”
While this pilot project is still in the early stages, the company has announced that they are working with local exchanges to further integrate their services and help customers use cryptocurrencies. their in the app easier. Rappi mentioned Bitso and Bitpay, two exchanges with a presence in the country, as participants in the matter.
The company also explained that the company is working to increase the security of transactions between exchanges and apps. Other companies in Latin America are also working to incorporate cryptocurrency into their business models. This is the case with Nequi, a Colombian fintech platform that is planning to break into the crypto sector in the country.