Brazil's fifth-largest city to accept bitcoin payments for public transportation

Bitcoin • July 29, 2019, 3:56AM EDT
UPDATED: July 29, 2019, 10:21AM EDT
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Fortaleza, the fifth-largest city in Brazil with a population of about 2.7 million, is set to accept bitcoin (BTC) payments for public transportation by the end of this year.

Local news outlet O Povo reported the news late last week, saying that the Ceara State Co-operative Autonomous Passenger Co-operative (Cootraps) will provide Fortaleza citizens the option to buy bus tickets using bitcoin, credit and debit cards, in addition to the current cash system.

The newer payment options are reportedly aimed at attracting more users and reducing bureaucracy in the system. "This is a way of reducing bureaucracy, even bringing more users into transport. We expect a larger flow of people, we will make it easier for users," said Carlos Robério Sampaio, chief financial officer of Cootraps.

Users will be able to pay for tickets through a mobile application and a QR code, per the report.

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Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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