Tagged: brazil

February 27, 2025 @ 10:07 pm By Omar Faridi  |  

Clara will now aim to offer its customers throughout Mexico, Colombia and Brazil Sumsub’s “full-cycle” verification platform and KYC/AML compliance expertise. Sumsub, a verification and compliance solutions provider, announced its partnership with Clara, the solution in Latin America for corporate expense management. This alliance will… Read More

February 26, 2025 @ 4:21 pm By JD Alois  |  

QED Investors and Valor Capital have led a $26.7 million Series A funding round in Capim, a Fintech based in Sao Paolo, Brazil. The company launched in 2021. The round included existing investors ONEVC, Canary, and NXTP, as well as new investors Endeavor, Saison, and Actyus. Capim is… Read More

February 23, 2025 @ 7:54 pm By Omar Faridi  |  

Nu Holdings Ltd. (NYSE: NU), one of the largest digital financial services platforms, released its Fourth Quarter and Full Year 2024 financial results. Financial results are presented in accordance with International Financial Reporting Standards (IFRS). David Vélez, founder and CEO of Nubank said: “2024 was… Read More

February 7, 2025 @ 12:03 pm By Omar Faridi  |  

AstroPay, a global enabler of digital financial solutions, says that it is redefining financial connectivity in Brazil with its expansion and acquiring a  Payment Institution (PI) license issued by the Central Bank of Brazil. This license is from the Central Bank of Brazil, underscoring AstroPay’s… Read More

January 21, 2025 @ 8:20 am By Omar Faridi  |  

Brazil’s digital banking platform Nubank (NYSE: NU) is reportedly expanding the feature that rewards holders of the digital dollar USDC to all users of Nubank Cripto in Brazil. As noted by Nubank, this latest expansion allows daily returns on a minimum balance of “10 USDC… Read More

January 17, 2025 @ 11:47 am By Omar Faridi  |  

Airwallex announced several milestones in its global expansion strategy: securing a payment institution license from the Banco Central do Brasil, and finalizing the acquisition of MexPago, a Mexico-based payment service provider and an Institution of Electronic Payment Funds (IFPE) license-holder. With these two licenses secured,… Read More

January 3, 2025 @ 12:42 pm By Omar Faridi  |  

In a development that underscores Binance’s commitment to adhering to   regulatory standards globally and regionally, they claim to have secured approval from the Central Bank of Brazil for the acquisition of Sim;paul, a broker-dealer licensed in Latin America’s most populous nation. According to the update… Read More

December 31, 2024 @ 2:02 pm By Omar Faridi  |  

Taxbit says it is ready to support Brazilian businesses in meeting new crypto regulatory requirements with solutions designed to simplify compliance and ensure “seamless” reporting. The Brazilian Federal Revenue Service’s proposal demonstrates its commitment to aligning domestic crypto taxation with global standards. By expanding reporting… Read More

December 22, 2024 @ 5:07 pm By Omar Faridi  |  

The Administrative Council for Economic Defense (CADE) and the Central Bank of Brazil (BCB) have reportedly greenlighted the acquisition of Transfeera, a fintech that is specialized in various payment solutions for businesses, by PayRetailers, a payments processor. The latest transaction is said to be part… Read More

December 22, 2024 @ 2:59 pm By Omar Faridi  |  

The year 2024 marked another period of consolidation and strategic growth for Brazil’s digital banking platform Nubank (NYSE: NU). The firm surpassed 100 million customers and reaffirmed its prominent position in the market by expanding its presence in the “high-income segment, pursuing international growth” with a… Read More

December 14, 2024 @ 11:30 am By Omar Faridi  |  

Nubank (NYSE: NU) is expanding Pix using generative artificial intelligence, both on its app and via WhatsApp. More customers can transfer money by giving commands using audio, text, and image messages, “ensuring convenience, speed, alongside a smoother experience and safety.” Pix with AI in the… Read More

November 30, 2024 @ 1:12 pm By Omar Faridi  |  

dLocal, the cross-border payment platform specializing in high-growth markets, marks a regulatory milestone by becoming a certified Payment Initiation Service Provider (PISP) in Brazil, authorized by the Central Bank. This certification enables dLocal to facilitate Pix payments directly within the Open Finance ecosystem, enhancing the… Read More

November 23, 2024 @ 5:58 pm By Omar Faridi  |  

Digital banking platform Nubank‘s (NYSE: NU) rise to Brazil’s “number one” bank provider is highlighted in an update which noted that the challenger has now overtaken Banco do Brasil, the country’s oldest bank founded in 1808, signifying a “paradigm shift” in the banking industry. By… Read More

November 19, 2024 @ 10:34 pm By Omar Faridi  |  

The Central Bank of Brazil (BCB) noted in an update that Pix now has security rules that apply for registering new devices. As mentioned in the update from BCB, cellphones, computers, and tablets being used in Brazil must now be registered with the bank to… Read More

November 16, 2024 @ 6:07 pm By Omar Faridi  |  

Nubank (NYSE: NU) clients who hold crypto-assets will be able to trade Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for “digital dollars” USDC as well as vice versa. The feature, integrated with Nubank Cripto, now reportedly simplifies currency transactions via direct exchange. Also… Read More

November 13, 2024 @ 10:00 am By JD Alois  |  

Transfero, a Brazil-based stablecoin solution platform targeting emerging markets, will work with Wormhole as an interoperability provider. Wormhole is a firm that provides cross-blockchain interoperability services globally. Wormhole is expected to support Transfero’s stablecoin offerings with its NTT (Native Token Transfer) framework. Transfero flagship stablecoin… Read More

November 12, 2024 @ 8:17 pm By Omar Faridi  |  

Nubank (NYSE: NU) has reached 100 million customers in Brazil, a number that represents 57% of the adult population in the country. In May of this year, Nu had reportedly reached this milestone internationall. According to Livia Chanes, CEO of Nubank in Brazil, this achievement… Read More

November 5, 2024 @ 2:37 pm By Omar Faridi  |  

Brazilians’ financial health index average rose to 56.7 points in 2024, the highest score in the past three years (an increase of 0.5 points compared to 2023). This data comes from the fourth survey round calculating the Brazilian Financial Health Index (I-SFB). The Brazilian Federation… Read More

October 20, 2024 @ 7:00 pm By Omar Faridi  |  

The Banco Central do Brasil (BCB) recently released a list of the thirteen themes selected for the second phase of the Drex Pilot, the Brazilian Digital Real. The Executive Management Committee (CEG) reportedly selecte the subjects from 42 different proposals that had been submitted. A… Read More

October 19, 2024 @ 4:19 pm By Omar Faridi  |  

Nubank (NYSE: NU), which claims to be the largest digital financial services platform outside of Asia, announces the expansion of its Working Capital offerings, its first loan solution for business customers. As mentioned in the announcement from Brazil’s Nubank, the volume of loans granted grew by… Read More