Brazil’s central bank is reportedly dealing with pushback as it seeks greater autonomy. As Bloomberg News reported Wednesday (June 10), the bank is arguing that limited resources are hindering its oversight as the country’s financial system grows more complex. A constitutional amendment that would give Banco Central do...
Latin America’s digital economy is advancing at a steady pace, yet much of the region’s commercial activity still operates beyond formal financial channels, leaving payments firms to contend with a fragmented and, at times, largely cash-based merchant landscape. The informal economy is a structural feature...
TikTok is reportedly seeking permission to provide lending and payment services in Brazil. The social media platform has filed for two licenses with the Brazilian central bank, Reuters reported Tuesday (March 31), citing two sources with direct knowledge of the matter. The first would let TikTok serve as an...
Latin America has captured an outsized share of global attention in recent weeks as geopolitics, elections and monetary pressures sharpen focus on emerging markets. Despite the volatility in the region, however, Latin America’s FinTech ecosystem remains defined by steady financial innovation, backed by renewed funding...
Cumbuca, a Y Combinator-backed FinTech, is betting that global payment players want into Brazil faster than the licensing process allows. In a Wednesday (Dec. 3) news release, the company said it has launched a “proxy” service that lets international firms initiate payments in Brazil under...
Payments FinTech Ant International is investing in Latin American embedded lending infrastructure company R2. The investment, announced Thursday (Oct. 30), is aimed at expanding access to credit for small and medium-sized enterprises (SMEs) throughout the region. “R2 enables digital platforms to offer financing solutions quickly...
The story behind Latin America’s digital payments boom isn’t necessarily about consumers abandoning cash. It’s about a financial ecosystem where mobile wallets and instant transfers are not just tools of convenience but engines of empowerment. As governments and FinTechs scale solutions from Brazil’s Pix to...
Immigrants in the United States are reportedly sending more money home amid heightened deportations. Remittances to many areas of Latin America are increasing by double digits, and the region is on pace to see $161 billion transferred from the U.S. before the year is out,...
Who will become Latin America’s dominant digital banking force, MercadoLibre or Nubank? It’s a question posed Tuesday (Dec. 10) in a report by Bloomberg News, which noted that MercadoLibre — which has its roots in the eCommerce world — is increasingly seeking the same turf...