By On Aug 6, 2019, Electroneum made remarkable strides towards its goal of mass adoption in developing regions by expanding to Brazil, the largest country in Latin America. This was announced on the company’s official website, where they revealed their excitement to make the cryptocurrency instantly available for Claro mobile top-ups with their ETN balance.
Expansion to Brazil is Another Stride for the Mobile Cryptocurrency
Electroneum is the world’s first genuinely mobile cryptocurrency, offering a mobile cloud miner that permits users to earn up to the US $3 in ETN each month. It is also the greenest and most secure digital currency in existence. Its expansion into Brazil has the potential to boost mass adoption across a country where 140 million people access the internet with their mobile phones.
Electroneum CEO, Richard Ells, explained that Claro top-ups had been made possible through a third-party platform that makes purchases of the mobile phone airtime and data stress-free and seamless. He added:
“We have invested significantly on talent, research, and development to lead the way in mass adoption by providing our ETN community with real-world use cases in South Africa and now in Brazil, as well as in many more countries that will be announced throughout 2019.”
Claro is the second-largest mobile network operator in Brazil, providing services to over 60 million subscribers, who can access internet roaming in over 150 countries.
The expansion into Brazil is expected to drive Electroneum into a new era of practical utility on the ground in developing countries.
Cryptocurrency Adoption in Brazil
A recent Global Digital Report by Hootsuite disclosed that Brazil is the 5th country in the world in terms of owners of cryptocurrency. The state also ranks highly on the list of countries with the highest number of crypto exchanges, according to The Next Web.
The most attention-grabbing stat, however, is that 40% of folks holding crypto in Brazil earn below the countries minimum wage. Moreover, the Bitcoin trade has surpassed the volume of gold, which is a positive indication of where crypto adoption is headed in the country.
Consequently, the Brazilian government is currently revising cryptocurrency regulations as it seeks to implement laws in response to the increasing interest in crypto across the country.
A notable example of rapid crypto adoption in Brazil is the imminent plan to launch a blockchain-based digital coin backed by coffee supplies. The crypto dubbed “Coffeecoin” will enable farmers to purchase fertilizer, machinery and other non-farming products.
Electroneum’s Community is Growing Rapidly
Electroneum’s 3.1-million community is swiftly growing and continues to zero in on mainstream cryptocurrency adoption.
In Brazil, Electroneum’s community is forecasted to grow even more as people find out how easy it is to use Electroneum’s mobile app that rewards those who engage with monthly ETN tokens. What’s more, is that the ETN rewards can now be used to purchase more airtime and data on Claro.
With an unbaked population of 55 million, Brazil seems to be a suitable next step to expand Electroneum’s user base.
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