Latin American delivery app Rappi rolls out a crypto payment pilot

Rappi said it would allow customers to convert crypto assets into credits that could then be spent on delivery services, effectively launching a tokenized system.

To roll out the service, Rappi partnered with Bitcoin payment provider BitPay and Mexican crypto exchange Bitso, which means that crypto holders will need a BitPay or Bitso account to use the converter, according to Labs News. During the pilot, Rappi is expected to impose a conversion limit of 2,000 Mexican pesos, or $100, per transaction.

Sebastian Mejia, Rappi co-founder and CEO, said he believed crypto could merge with traditional businesses to provide “easy and uncomplicated user experiences.” He also hinted at further crypto projects, saying that the new tokenization system was a “first step that will allow us to learn and continue incorporating the crypto world into Rappi."

Rappi operates in nine countries, including Brazil, Argentina and Mexico. They’re best known for a 24/7 delivery service that includes restaurants, drug stores, supermarkets and almost everything that can be found at a mall. In December 2020, they outpaced UberEats in the number of downloads.