Stablecoin News: USDT Spending Goes Mainstream With Opera MiniPays LatAm Integration

In a significant move for cryptocurrency adoption, Opera’s MiniPay has launched a feature that enables users to spend USDT, a popular stablecoin, directly at shops and services in Argentina and Brazil. This new capability, referred to as 'Pay like a local,' was unveiled during the Ethereum Devconnect conference held in Buenos Aires.

New feature allows USDT spending in Latin America through QR codes

The MiniPay wallet, which is built on the Celo blockchain, now connects dollar-denominated USDT balances to two of Latin America’s leading payment systems: PIX in Brazil and Mercado Pago in Argentina. This integration is aimed at making cryptocurrency more practical for everyday transactions. Users can utilize their MiniPay wallets to scan local QR codes for payments, eliminating the need for manual conversion of USDT or reliance on centralized exchanges.

Integration connects USDT balances with local payment systems PIX and Mercado Pago

With over 10 million users, MiniPay’s latest update is designed to facilitate seamless transactions in local currencies. Merchants will receive payments in Argentine pesos or Brazilian reais, while the conversion from USDT occurs automatically in the background through the infrastructure provider, Noah. This aspect ensures that the process is user-friendly, allowing merchants to conduct business without engaging directly with cryptocurrency.

Shift towards real-world utility reflects changing crypto landscape

Opera's Director of Global Communications, Julia Szyndzielorz, highlighted that this move signifies a shift in the cryptocurrency market, focusing more on real-world utility rather than speculative trading. The integration comes at a time when PIX, which processes more payments than credit cards in Brazil, is utilized by approximately 76% of the population. Similarly, Mercado Pago reaches nearly 70% of the Argentine market, indicating a strong foundation for crypto adoption in these regions.

MiniPay plans to expand its services to other markets in the future

Looking ahead, MiniPay is not stopping at just Argentina and Brazil. The company plans to expand its services into other markets. To facilitate this growth, MiniPay has partnered with various entities, including El Dorado, AlfredPay, and Paytrie, to enhance on- and off-ramps across Latin America and Canada. This expansion aims to make cryptocurrency spending more accessible to a broader audience.

As the cryptocurrency landscape continues to evolve, initiatives like MiniPay's integration of USDT spending reflect a growing trend towards practical applications of digital currencies, paving the way for increased acceptance and use in everyday transactions.