Santander Joins Argentinian FSIs to Launch Fraud Intelligence-sharing Network
Weekly news up to Wednesday, 28th of May 2025.
👀 NEWS HIGHLIGHT
The National Banking and Securities Commission published this Friday in the Official Journal of the Federation the official notice granting authorization for the organization and operation of a multiple banking institution in Mexico, to be called Nubank.
A few weeks ago, Nu Mexico, a subsidiary of the Brazilian giant that today operates in the country as a Sociedad Financiera Popular (Sofipo), announced that it had already obtained a banking license from the regulator.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
☕️ REGIONAL HIGHLIGHTS
⭐️ Santander joins Argentinian FSIs to launch fraud intelligence-sharing network.
⭐️ Nu Colombia launches new tool to help users reach savings goals.
⭐️ Worldpay Continues Expansion into Latin America with Domestic Acquiring in Colombia.
⭐️ EBANX appoints former Visa and Western Union exec Marie-Elise Droga as Chief Revenue Officer.
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BRAZIL
Binance Pay brings instant crypto-powered payments to Brazil via Pix. This means users in Brazil can make real-time payments in Brazilian reais using crypto, seamlessly converting their digital assets into local currency through a system they already know and trust.
Juspay expands to Brazil and establishes its first hub in Latin America. This marks a significant milestone in the company's international expansion, since it is the first official effort to acquire a solid customer base in the country as well as in Latin America.
Adyen receives authorization to operate as a payment initiator in Open Finance. This means that the FinTech has completed all certification and approval stages to operate with the modality. With this approval, Adyen now appears on a list of 54 ITPs that are currently authorized to operate in this mode.
COLOMBIA
Colombia to issue first CBDC on Cosmos. The initiative seeks to modernize cross-border settlements by leveraging the efficiency of programmable money without compromising institutional security. A CBDC is a digital form of a country’s sovereign money, issued and regulated by its central bank.
MEXICO
Nu Mexico and OXXO launch cash deposits. This new feature will allow customers to deposit securely and conveniently through the extensive network of more than 23,000 OXXO* stores using a deposit code, simplifying access to digital finance for a significant portion of the Mexican population for whom physical cash remains relevant.
MOVERS & SHAKERS
Youssef Lahrech steps down as COO of Nubank. Lahrech will maintain a role at Sao Paulo-based Nu as permanent observer on the board’s audit and risk committee, and he will advise the company on credit strategy. The company said it continues to “streamline efficiency” and speed its operations.