Brazil-based fintech CloudWalk will launch its own blockchain, a ledger that that records cryptocurrency transaction and operations.
The company provides payment solutions for small and medium-sized businesses, had previously raised USD 150 million in a new investment round and had reached a market valuation of USD 2.15 billion.
The goal, which is already being met, is to escalate the business. With its own network, it can handle 500 transactions per second – 70 times more than before, when it was based on blockchain platforms such as Ethereum and Polygon. And the goal for the coming months is to handle 5.000 transactions per second.
The Brazilian Digital Real (BRLC) stablecoin, launched in December 2021, is offered as cashback for transactions made on CloudWalk’s InfinitePay payment machine.