The new functionality allows Lanistar users to purchase and sell cryptocurrency directly on the Lanistar app. According to the company press release, Lanistar believes that crypto is a well-suited financial solution for the unbanked and underserved. The company also offers plastic-free virtual cards in a bid to minimise waste.
Officials from Lanistar offered some more insight into the company’s crypto-friendly approach by touching on underbanked and underserved users who feel like they’re not well-represented by traditional banking institutions.
As for the app itself, the company’s CEO highlighted its simple and straightforward layout, as well as its easy-to-use nature. The Lanistar app was designed to be used by anyone, as customers can simply log in and add crypto to their portfolios in just a few taps.
The Lanistar app, as well as its newly added crypto functionality, are available in Brazil at the time of writing, but the company plans to expand this offering to the UK and other LATAM regions later in 2023. Moreover, the app will receive more updates in the following months, including a complete crypto exchange system, as well as support for sending and receiving cryptocurrencies.
Lanistar was founded in 2019 with the aim of becoming a fintech unicorn that challenges traditional banking. The company’s primary goal is to create an ‘AnyMoney’ solution that can be used anytime, anywhere by offering access to both general bank accounts and cryptocurrencies. Lanistar offers traditional bank account services through its banking partner Modulr.
In February 2023, Lanistar has gone live with Google Pay operability to its virtual payment card in Brazil. This milestone represented the first time the Lanistar service has been approved for use through Google's proprietary secure payment platform.
The technology allowed the fintech's services to become more accessible for users by assuring there will be no restrictions when it comes to making transactions. Lanistar has been on an expansion spree in Brazil, having gone public in the country in mid-2022. The fintech’s mobile app allows customers to manage and control all of their financial products from one place, with a virtual card allowing purchases to be made online or via Google Pay.
The app also integrates with regional payment solutions PIX and Boleto, providing Brazilian customers with wide-ranging functionality without the need for a physical payment card.
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