Finance minister and frontrunner in Argentina presidential elections announced the digital Peso project, against crypto critics.
LatAm fintechs have a massive advantage over traditional financial companies: a lack of a robust, cost-heavy physical infrastructure that thwarts cross-border expansion.
Yave, a mortgage and credit fintech that aims to capture the Mexican mortgage market, won the day after an excellent presentation by co-founder and CEO Bernardo Silva. He said he wanted to break into the slow-moving trad marketplace for mortgages and help brokers put the mortgage right into the sales process.
Low multiples could lead to strategic fintech M&A as companies with abundant capital take the opportunity to scoop deals.
The agreement for the acquisition of NetPay had been announced in November 2022. FEMSA had owned minority shares in the fintech since 2019.
Although many Latin American companies claim they have little exposure to FTX's digital token, a widespread loss of conviction in crypto poses a significant risk.
Brazil's Minister of Finance criticized "stratospheric" revolving credit card interest rates amid a campaign to push through economic reforms.
Kredito was founded in 2018 to create a solution that would provide "fair interest rate" loans to startups and small-cap companies.
Cryptocurrency regulation has been embedded into broader financial technology regulation or postponed in a "wait and see" approach.
LinkedIn's "Top Startup 2022 in Latin America" list highlights the work of the most promising and innovative companies of the year.