DLocal Secures UK Payments Licence in Cross-Border Push
Weekly news up to Wednesday, 8th of January 2025.
👀 NEWS HIGHLIGHT
Latin American FinTech investments rose 73% in 2024, focusing on cost-efficient, B2B models. Regulatory advances in Chile and Colombia support innovation and financial inclusion.
Experts highlight the need for unified regional frameworks and innovation hubs. Looking to 2025, FinTechs are set to diversify services and leverage technologies like AI and blockchain for enhanced connectivity and inclusion.
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BRAZIL
Binance gets Brazil's approval for Sim;paul. This move enhances Binance's compliance with Brazil's regulatory framework and positions it to adapt to ongoing regulatory developments. It becomes the first crypto exchange in Brazil to hold a broker-dealer license. The acquisition strengthens its presence in the country as a global exchange.
Paysafe expands into Brazil with new payment license. This license allows Paysafe to expand its partnerships with iGaming operators in Brazil and offer eCommerce payment solutions to merchants across various industries. Also, Paysafe strengthens its presence in the Latin American iGaming market, including Argentina, Colombia, Mexico, and Peru.
Wise expands leadership for EMEA. Wise announced the appointment of Lauren Langbridge as CD for North America, and Manuel Sandhofer as its new GM for Europe, Middle East and Brazil. They will oversee and scale Wise Platform’s strategic partnerships, growth, and commercial strategy across the regions, as demand for its solutions rapidly grows.
COLOMBIA
Scotiabank transfers operations in Colombia, Costa Rica, and Panama to Davivienda. The transaction is expected to streamline Scotiabank's focus on the North American corridor and Latin America. This deal includes a mutual referral agreement, allowing Scotiabank to continue supporting its clients through Davivienda's network.
URUGUAY
dLocal Secures UK Payments Licence in Cross-Border Push. Uruguay-based dLocal secured a UK FCA payment institution license, enabling its local entity, dLocal Opco Ltd UK, to onboard merchants after restrictions tied to Brexit. This marks a step forward in its global expansion strategy.