Tagged: South America

November 22, 2020 @ 11:48 am By Omar Faridi  |  

Global Fintech firm Circle has teamed up with the Bolivarian Republic of Venezuela and Airtm in order to provide aid to Venezuelan residents using the USDC stablecoin. According to a release, the initiative has been introduced with government support and notably marks “a global first”… Read More

November 17, 2020 @ 9:35 pm By Omar Faridi  |  

Brazil’s reserve bank has launched its PIX instant payments platform and has also noted that WhatsApp might soon be allowed to reintroduce its peer to peer (P2P) payments service in the South American country. PIX allows local residents, companies, and government agencies to carry out… Read More

November 7, 2020 @ 7:55 am By Omar Faridi  |  

​Brazil’s National Monetary Council (CMN), which is responsible for establishing monetary and credit policies, will be working with Banco Central do Brasil (BCB), the nation’s reserve bank, in order to create guidelines for managing the operation of the “Controlled Tests Environment for Financial and Payment… Read More

November 3, 2020 @ 7:42 pm By Omar Faridi  |  

Chile’s Ministry of Finance recently revealed that it aims to streamline the development of its regulatory framework for Fintech and Open Banking. Chile’s government will reportedly be working on a legal proposal for standardizing Open Banking. This should help with promoting competition and innovation in… Read More

September 24, 2020 @ 8:26 am By Omar Faridi  |  

Brazil-based FitBank Pagamentos Eletronicos SA, a Fintech firm backed by JPMorgan Chase, one of the world’s largest banks in terms of assets and scope of operations, is planning to establish an additional business office in the US during the first half of next year. The… Read More

September 9, 2020 @ 8:06 am By Omar Faridi  |  

Cryptocurrency adoption has been growing steadily across the globe, according to Chainalysis’ Global Crypto Adoption Index. As mentioned in a report from the blockchain security firm, the majority of cryptocurrency volume reflects trading and speculation that was conducted by professional or institutional investors that were… Read More

August 30, 2020 @ 4:08 pm By Omar Faridi  |  

Fuse Capital, a company established by experienced VCs and business owners based in Rio de Janeiro, Brazil, recently revealed that it’s raising its first overseas fund for investors looking for long-term, but high-risk investment opportunities. Launched in November 2019, Fuse Capital aims to assist Brazilian… Read More

August 30, 2020 @ 3:48 pm By Omar Faridi  |  

Buying or selling property or real estate might begin to lose its appeal when we consider how time-consuming it can be to actually maintain these investments. However, Colombia based Proptech firm Habi says it plans to offer products and services that will help improve Latin… Read More

August 27, 2020 @ 10:00 pm By Omar Faridi  |  

Venezuela is experiencing one of the worst economic crises in history. The South American country’s national currency, the Bolivar, has become practically worthless due to extremely high levels of hyperinflation (about 10,000,000% during 2019). Venezuela’s residents are also suffering due to serious socioeconomic challenges, as… Read More

July 25, 2020 @ 4:33 pm By Omar Faridi  |  

Brazil-based Solfácil, a Fintech firm focused on helping with financing the installation of solar panels in homes, is reportedly looking to expand its operations after acquiring additional funding. In statements shared with BNamericas, Fábio Carrara, the founder and CEO, stated that the company is currently… Read More

July 24, 2020 @ 8:21 am By Omar Faridi  |  

Banks in Argentina have reportedly launched a new peer to peer (P2P) money transfer app, called Dimo. There are around 20 local banks that have now registered with the joint venture firm Pay Digital, which will be developing and deploying Dimo, according to an update… Read More

June 25, 2020 @ 8:40 am By Omar Faridi  |  

Switzerland-based Credit Suisse, a multinational wealth manager, investment bank and financial services firm, has made a deal with modalmais, a Brazilian digital bank. According to the terms of the agreement, the Swiss bank will purchase preferred shares that will be “equivalent to up to 35%”… Read More

June 17, 2020 @ 11:45 pm By Omar Faridi  |  

Softbank Group-backed Greensill Capital, a London based provider of capital finance for businesses and people globally, will reportedly be acquiring Colombia’s Omni Latam in order to accelerate the growth and adoption of innovative financial tech solutions in Latin America. The amount that will be paid… Read More

June 11, 2020 @ 9:02 pm By Omar Faridi  |  

XP Investimentos XP Inc. (Nasdaq: XP), a company offering fixed income, equities, and private pension products, says it’s reevaluating its business plans, following the introduction of new Open Banking guidelines in Brazil. XP will reportedly be acquiring a majority stake in Fintech firm Fliper, an… Read More

June 1, 2020 @ 9:03 am By Omar Faridi  |  

Although Latin America (LatAm) may have introduced Fintech services after they had been established in more advanced economies like the US and in Europe, the region is growing fast because of the launch of several financial technology initiatives. While it may be difficult to accurately… Read More

May 29, 2020 @ 12:03 pm By Samantha Hurst  |  

Trov, a U.S.-based insurtech company, announced earlier this week it has formed a new partnership with Seguros Sura Brazil, a Latin American P&C insurer, to bring on-demand insurance to Brazil.  Trov stated it has been working with Seguros Sura Brazil for the past several months… Read More

May 26, 2020 @ 11:21 pm By Omar Faridi  |  

Argentina-based Fintech firm Ohana (which means “family” in Hawaiian) has revealed that its digital wallet will allow users to pay for everyday goods and services, and taxes. The company’s electronic wallet may also be used to send money to friends and family members. There’s an… Read More

May 23, 2020 @ 1:39 pm By Omar Faridi  |  

Via Varejo, the largest retail company in Brazil, has confirmed that it will be acquiring AirFox, a US-based Fintech firm. The amount involved in the transaction has not been disclosed. AirFox will maintain its Boston head offices and will also operate as a Fintech “innovation… Read More

May 13, 2020 @ 9:42 pm By Omar Faridi  |  

Brazil-based online wallet provider PicPay recently revealed that it has surpassed 20 million clients as of May 2020. As reported by Reuters, the company said that it achieved the milestone sooner than it had initially expected. PicPay was aiming to hit the goal by December… Read More

April 27, 2020 @ 9:18 pm By Omar Faridi  |  

In the South American country of Argentina, where most people prefer to make cash payments, a strict nationwide lockdown (due to COVID-19) has forced local consumers into considering digital banking and online payments options. Before the Coronavirus-related lockdown went into effect on March 20, 2020,… Read More