REPORT
Real-Time Payments (RTPs) are not just financial tools; they're the foundation of today's global economic unity and the future's interconnected commerce.
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👀 NEWS HIGHLIGHT
Latin America’s largest digital bank, Nubank, has announced a significant educational initiative, earmarking a total of US$1.2 million in scholarships for talented youths in Brazil and Colombia. This investment forms part of the philanthropic Give Back fund and will be managed by entities such as Sitawi and the Phi Institute.
📰 ARTICLE
Embedded finance, while closely related to BaaS, presents a distinct aspect of financial integration. While BaaS forms the infrastructure backbone ("how"), embedded finance represents the actual financial offering ("what") added to core products.
💡INSIGHTS
It’s been a few exciting years for Latin America’s second-largest country, particularly as crises and newcomers have shaken up the traditional finance industry.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️Visa to acquire a majority interest in Prosa to accelerate digital payments adoption in Mexico.
⭐️ Mexican Fintech Kapital raises financing led by Tribe Capital.
⭐️ EBANX partners with Bancolombia Bank.
⭐️ Stone raises US$467.5 million with US development agency to advance receivables.
BRAZIL
Neobank Conta Simples obtains licence from Banco Central do Brasil to offer B2B credit. The licence allows the start-up to build credit products in-house.
Nubank will allow Bitcoin and cryptocurrency withdrawals in 2024, according to a statement sent to Livecoins. The company is also expanding its investment product portfolio in the app with real estate and agriculture credit bonds.
InvestPlay, from Open Finance, receives investment of R$3.3 million from BRQ, Osten Moove funds, and Darwin Startups accelerator, which counts B3 among its corporate partners.
Belvo receives approval to operate payment initiation. With fintech, the number of institutions qualified to work with the modality via Pix in Open Finance reaches 27.
Vórtx, a key player in financial and capital market infrastructures, has recently been granted a Direct Credit Company (SCD) license by Brazil's Central Bank (BC).
COLOMBIA
The Banco de la República - Colombia selects ACI Worldwide to develop new real-time payments system.
MEXICO
Mexican paytech company Tu Dinero Digital (TUDI) has been acquired by the pharmacy chain Farmacias del Ahorro, a move endorsed by the CNBV (National Banking and Securities Commission).