Electroneum (ETN) has teamed up with top international cryptocurrency exchange CoinBene to launch its first Brazilian real (BRL) trading pairing.
The mobile-based altcoin began trading in BRL for the first time on CoinBene on November 14th at 13:00 GMT.
Electroneum is the ninth cryptocurrency to be paired with BRL on CoinBene, which also offers an ETN-BTC trading pairing.
Electroneum CEO and Founder Richard Ells said: “I’m delighted we’re now available to trade in Brazilian reais. The Brazilian cryptocurrency market has grown at a crazy pace over the last couple of years and there’s no sign that will slow down anytime soon, so I’m thrilled that our partnership with CoinBene will give these crypto-enthusiasts an opportunity to buy ETN in their native currency.
“Being paired with Brazilian reais will also give any vendors in Brazil who install our ETN Instant Payment API the option of converting their ETN into the local currency or use local currency to purchase ETN.
“This will give us a link to the local fiat currency and take away some of the risks typically associated with accepting cryptocurrency as a form of payment, which should encourage more vendors to come on board and accept ETN.”
For Feng Bo, CEO of the Brazilian operation of CoinBene and Vice-President for the global one, the entry of Electroneum with the pair in reais is an excellent opportunity for Brazilians.
“The Brazilian crypto market is still very young and focused on Bitcoin, so bringing in new options paired up with reais, especially pairs like Electroneum, are opportunities to present a world of new possibilities for CoinBene users,” says Feng.
Richard Ells concluded: “Going into Brazil is a huge move for us. It will provide us with a base in South America – and in a country which has made great strides when it comes to financial inclusion.
You can find a list of exchanges Electroneum is traded on and more on the company profile page here.