Revolut Set to Launch in Mexico by Year-End
Weekly news up to Wednesday, 4th of June 2025.
👀 NEWS HIGHLIGHT
Bitso, the leading financial services platform powered by crypto in Latin America, announced the launch of a new feature that enables users in Mexico and Argentina to send and receive U.S. dollars directly from the United States via ACH or Wire transfers. The service offers a virtual U.S. bank account at no cost and aims to simplify access to cross-border financial flows.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ PayPal announces entry into the acquiring market in Brazil.
⭐️ RedotPay partners with Circle Payment Network.
⭐️ Revolut will launch at the end of the year in Mexico.
⭐️ Nubank launches price alert on airline tickets for high-income customers.
BRAZIL
Foxbit Launched Its Card in Brazil with Pomelo´s Expert Support. Pomelo helps Foxbit bring its users' crypto assets for fast, secure, and scalable daily transactions at over 100 million merchants.
Decentralization of credit opens new fronts for fintechs, says Pomelo. Rafael Goulart, country manager of Pomelo in Brazil, highlighted how Open Finance is driving the decentralization of credit in the country and creating new opportunities for fintechs. He shared these insights during the “Fintech Innovation Day” by StartSe, in a panel alongside Marcelo Toledo from Itaú Unibanco.
ARGENTINA
Mercado Pago will apply for a Banking license in Argentina, aiming to become the largest digital bank in Latin America. The banking license will allow Mercado Pago to continue improving its services, create more investment tools, and develop new lines of credit within its 100% digital model.
MEXICO
Belvo is betting on alternative data in Mexico as open finance pauses. The firm has identified a key opportunity in the use of alternative data to improve access to credit, a resource they believe has potential in the Mexican financial ecosystem.