Cryptocurrency company CloudWalk has become an authorized payment institution by the Central Bank of Brazil

ChainCatcher news, according to CoinDesk, Brazilian cryptocurrency company CloudWalk has become a payment institution authorized by the Central Bank of Brazil, allowing it to offer credit cards to users and payment accounts to businesses. Additionally, the company will now be the first cryptocurrency firm to directly connect to the Brazilian government's payment system, Pix.

It is reported that CloudWalk completed a $150 million funding round led by Coatue in November 2021 and launched a stablecoin pegged to the Brazilian real in December. (CoinDesk)