Rio de Janeiro, Brazil - July 12, 2023 – Today, NG.CASH, the first digital wallet developed exclusively for Generation Z in Brazil, is rolling out cryptocurrency trading services for clients who have signed up for the waitlist. The beta version will offer investing in Bitcoin (BTC) and Ethereum (ETH), and moving forward, more cryptocurrencies will be available for trading within the NG.CASH app. The selection of assets to be listed next will be hashed out by a vote among the client base. By the end of August, the service is expected to be available to over a million clients. "This new service will give Generation Z a democratic and integrated experience in the world of cryptocurrencies, paired with the safety and dependability that NG.CASH have always offered," says Mário Augusto Sá, CEO and founder. 

NG.CASH operates as a payment institution and, hence, falls under the purview of the Brazilian Central Bank, adhering to all necessary regulatory requirements for its operational stage. During the account setup process, if the user is underage, the consent of a legal guardian is required, along with their documents. Moreover, users who haven't hit 18 yet will only get access to the crypto asset trading environment within the app after specific approval from their guardians. This makes sure parents and guardians are on board with the entire product lineup, which includes financial education resources and limit controls within the app. The experience carries low risk and provides practical learning for clients, who are often taking their first steps in the financial world. 

The incorporation of cryptocurrency trading services is a strategic move to keep up with the growing demand of young investors for digital financial options and investment alternatives. Generation Z comprises 46.2% of Brazilians investing in cryptocurrencies, according to data from the Brazilian Financial and Capital Markets Association (Anbima). The decision to go with crypto as the first financial asset to be distributed by the platform was voiced by the clients themselves in an in-house survey. The primary goal of this launch is to democratize access for young people in a secure and straightforward way, simplifying practical learning. Within the app, investments start at just BRL 1.00. 

To bring the project to life, NG Cash leans on Parfin’s custody and brokerage services, which provide an end-to-end institutional infrastructure solution for digital assets in line with regulatory requirements and offer multiple layers of security. “Teaming up with NG.Cash sets up a robust, customizable solution for new crypto investors. In an effortless and responsible manner, the new generation of investors can take their first steps in this ecosystem with confidence and complete security," wraps up Cristian Bohn, Parfin’s CSO. 

In addition to the new cryptocurrency services, the Rio-based fintech currently offers benefits such as Pix, prepaid international Mastercard, scheduled allowance, a virtual card for online payments, bill payments, and some unique products like exclusive app skin customization, financial education videos, a discount marketplace, and mobile top-ups. "We hold that, besides easy access to financial services, we are providing this generation with the chance to manage their own money independently and securely, a crucial step towards rock-solid financial literacy. We're thrilled to empower our clients to delve into the world of cryptocurrencies and seize the investment opportunities it presents," adds Mário. 

About NG.CASH 

NG.CASH, the digital wallet of choice for Generation Z, was designed to foster financial independence and acumen by providing digital payment options and financial education. Established in February 2021, the company has already crossed the 1 million mark in open accounts within just 24 months of operation. In 2022, NG.CASH secured a US$10 million investment, making it one of the largest seed rounds in Brazil and the first fintech in the country to raise such a substantial sum. The investment was led by Andreessen Horowitz and Monashees and represented one of the largest bets in the sector in Latin America. 

About PARFIN 

Parfin is the leading digital asset infrastructure provider in Latin America, serving a diverse portfolio of clients, from banks to crypto-native companies. Its platform offers institutions an end-to-end solution for the custody, trading, tokenization, and management of digital assets. Parfin's mission is to accelerate institutional adoption of digital assets through solutions that simplify access to the ecosystem while upholding the highest security, robustness, and compliance standards. For more information, visit www.parfin.io.