The licence enables AstroPay to offer financial services to Brazil’s local & international users and businesses. Credit: A9 STUDIO/ Shutterstock.

Fintech firm AstroPay has obtained a Payment Institution (PI) licence issued by the Central Bank of Brazil. 

The licence enables AstroPay to offer financial services to Brazil’s local & international users and businesses, strengthening its position as a platform for cross-border financial management in the region.  

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AstroPay’s global card enables users to manage their finances across borders and access exchange rates. 

The company claimed that its approach to cross-border payments offer cost savings for users.  

Stating an example, the company said that travellers spending $2,000 on a trip to Brazil could save up to BRL1,000 compared to traditional credit cards, with conversion rates “as low as” 1.5% and an IOF (financial transaction tax) of 0.38%. 

The company stated that it has also expanded its team in Brazil and adjusted its services to address the needs of both local users and the expat community in the country. 

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AstroPay CEO Marc Sacal stated: “This expansion marks a pivotal milestone for AstroPay as we align our services with Brazil’s regulatory framework and deliver compliant, secure, and innovative financial solutions.  

“By working closely with local and international regulators, we aim to empower individuals and businesses globally to take control of their finances. This isn’t just about payments—it’s about building a foundation of trust and efficiency to create meaningful opportunities for users in Brazil and beyond.” 

Last month, AstroPay launched a multicurrency wallet, allowing users to hold, exchange, and transact in multiple currencies through a single app.  

The tool is designed to help individuals manage international finances, whether travelling, working remotely, or conducting business globally.