Tagged: South America

JPMorgan backed Brazilian Fintech FitBank to Expand Payments Services Business into the US

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

Crypto has become “Truly Global” as P2P Bitcoin Exchanges like Paxful Facilitate Transactions in Developing Countries: Report

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

Brazil’s Fuse Capital to Allocate Funds to Startups Focused on Big Data, AI, Machine Learning, Credit Card Firm to Assist Wealthy Investors

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

Colombian Proptech Habi, which has Adopted iBuying, Secures $10 Million via Series A Round led by Inspired Capital

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

Chainalysis Confirms Venezuelans are Increasingly Using Bitcoin and other Cryptos for Remittance Payments, as Bolivar is Useless

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

Brazil based Fintech Solfácil Secures $4 Million in Capital to Help Finance Installation of Solar Panels

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

Fintech Adoption in Argentina Gets a Boost as Local Banks to Launch P2P Money Transfer App, Dimo

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

Switzerland’s Credit Suisse, a Global Wealth Manager, to “Explore Synergies” with Brazilian Digital Bank modalmais

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

Softbank backed Greensill Capital to Acquire Colombian Fintech Firm OmniLatam as Part of Latin America Expansion Strategy

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

Nasdaq listed Brazilian Firm XP Inc. to Acquire Majority Stake in Fintech Fliper, Subject to Regulatory Approval

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

Fintech Adoption in Latin and South America Is on the Rise, with Mexico and Brazil Leading the Charge

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

Insurtech Trov Partners With P&C Insurer Seguros Sura Brazil to Bring On-Demand Insurance to Brazil

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

Argentina based Fintech Ohana to Launch Digital Wallet to Help Locals Pay for Daily Services via QR Codes, Send Money, Settle Taxes

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

Brazil’s Largest Retailer Via Varejo Acquires Boston-based Fintech AirFox for Undisclosed Amount

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

Brazilian Digital Wallet PicPay Surpasses 20 Million Downloads Sooner than Expected Due to COVID-19

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

Digital Banking: Argentinians are Increasingly Using Online and Mobile-based Apps for Everyday Transactions Due to COVID-19

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

Venezuelan Digital Asset Exchange Criptolago Introduces Text Message-based Payment System to Conduct Cryptocurrency Transactions without Internet Connection

Venezuela-based digital currency exchange Criptolago has confirmed that it will introduce a text message-based payment platform that can handle transactions in Venezuela’s controversial (allegedly) oil-backed Petro (PTR) cryptocurrency and other major digital assets. The new payment system could potentially help Venezuela’s residents with transacting in … Read More

Brazil’s Financial Regulators are Working on a Blockchain or DLT-enabled Data-Sharing Platform to Conduct Background Checks on Politicians and Corporations

Four of Brazil’s financial regulatory agencies are working cooperatively to create a blockchain or distributed ledger technology (DLT)-enabled data-sharing platform, which will conduct background checks on the nation’s political representatives and private corporations. The platform, called PIER, was reportedly created by the country’s reserve bank,… Read More

Global Fintech as a Service Rapyd Partners With Dock & Banco Rendimento to Launch All-in-One Solution in Brazil

Rapyd, a global B2B Fintech as a Service provider, announced on Monday it has partnered with major Brazilian payment providers, including Dock, a banking as a service technology company, Banco Rendimento, and other local partners to support cash, bank transfers, e-wallets, bill payments, debit and… Read More

Online Travel Company Despegar Launches Co-Branded Credit Card in Brazil Through Partnership With Santander & Visa

Despegar (NYSE: DESP), an online travel company in Latin America, recently announced its Brazilian subsidiary Decolar launched a co-branded credit card in partnership with Visa Inc. and Banco Santander (Brasil) S.A. for the Brazilian market. Despegar reported that a special feature of this new card… Read More

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