Lemon Launches the VISA Lemon Card Powered by Pomelo
Weekly news up to Wednesday, 19th of March 2025.
👀 NEWS HIGHLIGHT
Jag Duggal, the chief product officer of Latin America digital bank Nu Holdings Ltd., will step down in early April to attend to personal matters.
The San Francisco-based executive — who’s been at Nu since January 2020 and held the role through its initial public offering in late 2021 — will stay on as an adviser, the company said in an emailed statement.
📊 INFOGRAPHIC
In 2025, Pix will surpass credit cards as the most used payment method for e-commerce payments in Brazil.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ StoneX Payments and Bamboo Partner to Expand Cross-Border Payment Coverage in Latin America.
⭐️ Lemon launches the VISA Lemon Card powered by Pomelo.
⭐️ Kuady Partners with Deriv to Enhance Seamless Trading Payments Across Latin America.
⭐️ dLocal and Coda announce global strategic partnership.
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BRAZIL
Elo, Agility and INETCO partner to optimise payment reliability in Brazil. The collaboration will leverage INETCO’s improved real-time transaction monitoring solutions, as well as Agility’s expertise and experience in supporting clients in multiple sectors in order to optimize the overall payment reliability in the country.
Bezos-backed Stark Bank targets Brazilian crypto businesses. The Sao Paulo-based business bank is working with 52 firms focused on digital currencies and blockchain technologies, including Mercado Bitcoin Servicos Digitais, Transfero Swiss AG, and Binance Holdings, CEO Rafael Stark said.
Nubank, Google Pay and Binance are among the most downloaded financial apps in Brazil. A recent report revealed a 27% increase in global financial app installations, with Latin America seeing a 29% rise. Notably, Google Pay moved from 4th to 2nd place, while Nubank shifted to 7th as Binance climbed to 6th.
XTransfer and Ouribank join forces to empower businesses and boost cross-border trade in Brazil. This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s clients, particularly benefiting Chinese and global traders with significant markets in Latin America.
Pix is increasingly popular among Argentines: Belo processed more than US$150M in one month. Belo enables Argentine tourists to make payments in Brazil using Pix. Between January and early February 2025, these tourists processed over $150M through Belo, surpassing the $115M managed in all of 2024.
ARGENTINA
Binance recognizes Argentina's growth in the crypto market. The country will be the headquarters for the new general management of the Southern Cone and will have an executive for that office who will report to Guilherme Nazar, Binance’s regional vice president for Latin America.
Argentine FinTech N5 gets injection from Brazilian investors. This funding aims to support the company's expansion across Latin America, Europe, and the United States. Read more
CNV defined the regulatory framework for crypto exchanges. The regulation aims to ensure transparency, stability, and user protection within the crypto ecosystem. PSAVs will need to register, comply with cybersecurity standards, prevent money laundering, and safeguard assets.
Crypto.com secures regulatory approval in Argentina. The company has secured its Virtual Asset Service Provider (VASP) registration from the National Securities Commission (CNV). This registration will allow Crypto.com to offer a fully regulated suite of products and services in the country.