UK-based blockchain firm Online Blockchain has developed a cryptocurrency dubbed the Brazio as a solution to the unbanked problem in Brazil.

It has partnered with ADVFN Brazil to develop the Brazio, which is now listed on the SouthXchange.

“Users will enjoy increased assurance of the security of their personal funds and decreased costs to transact,”  notes a press release. It adds that the Brazio is also aimed at “bringing trusted cryptocurrency to the mainstream in South America”.

Fast and secure crypto exchange

SouthXchange claims to be a fast, secure and real-time cryptocurrency exchange platform for Bitcoin and other digital currencies.

“Brazio’s (which can be mined) inclusion on SouthXchange is instrumental in getting traction in this exciting market,” says Michael Hodges, Chairman of Online Blockchain. “Brazio will be an exemplar for the standards of which cryptocurrencies are implemented for the good of developing and unbanked countries.”

Oscar Chambers, the Lead Developer of the new altcoin, says: “Brazio employs all of the robust features of the Bitcoin blockchain such as excellent security, fast transactions and decentralised governance, but has been customised and improved with the interests of the Brazilian people and economy in mind”.