Brazil Gives the Green Light for Fortaleza to Start Using BTC For Public Transit Payments

Fortaleza, capital of the Brazilian State, Ceara, widely known for its architectural highlights, has recently revealed plans of implementing Bitcoin [BTC] as an accepted payment method for public transit (i.e. taking the bus) reports The Block.

The news was initially reported by OPOVO Online, a Brazilian news outlet, who shared that the state’s Cooperative Autonomous Passenger Transporters (Cootraps) were the ones to have made this decision. Bitcoin was one of three recently planned options, while the other two include debit and credit cards.

As for how payment processing works for BTC, consumers will have to go into an application in which a QR code will be generated once the payment has been confirmed.

The CFO of Cootraps, Carlos Roberio Sampaio has since commented on this effort. Here’s what the CFO had to say in regard to choosing this path.

The closest available translation has been derived from OPOVO Online:

“This is a way of reducing bureaucracy, even bringing more users into transport.” Sampaio further added that this could potentially induce “a larger flow of people, […], make it easier for users.”

Another reason for said endeavor rests in the possibility of reducing costs associated with traditional means of payment currently accepted for public transits.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

YFI’s Andre Cronje isn’t Going Anywhere; ‘This Space Won't Get Rid of Me'

Andre Cronje, the guy behind yEarn and the popular YFI, is not leaving the cryptocurrency space any time soon, at least, “until there is...

Crypto Mom, Hester Peirce, Secures Second Term as SEC Commissioner Through 2025

The US Securities and Exchange (SEC) Commissioner Hester Peirce, aka “Crypto Mom,” has been confirmed for a second term that will last till June...

yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

DeFi craze continues to get hotter as the system grows. yEarn’s zero supply valueless token YFI climbed to a new high today at $5,300 and...

Bitcoin Dollar Cost Averaging From 2017 Market Peak Still Returned 61.8%

Bitcoin price remains strong, not far from hitting $12,000 yet again after the touch and go over the weekend. Interestingly, despite the fact that the...

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today