Fintechs in Latin America market high-yield saving accounts to win customers off from traditional financial institutions.
Mercado Libre booked $262 million in profits, up 113% year over year amid strong e-commerce tailwinds and a growing fintech business.
Mobility giant Uber kicks off its fintech business in Mexico, the latest move from the US company to ramp up financial services overseas.
Amazon launched a credit card product in Brazil in an effort to compete with Mercado Libre and ramp up its fintech strategy in South America.
While VC funding to Latin American startups saw a year over year decline, the fact that it is stabilizing offers hope to the industry.
The IMF said Brazil's Digital Real could reap the benefits of blockchain technology and compete with privately-issued stablecoins.
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Mexican fintechs Klar and Konfio tap $100 million credit lines from U.S. firms to boost lending in the country.
Warren Buffett-backed Nubank reported a 44% increase in profits in the second quarter, as it expands its customer base in Latin America.
Brazil's fintech Nomad took $61 million in a Series-B funding round to expand its portfolio. Tiger Global Management led the investment.
A decline in the number of neobank downloads in Brazil raises concern about saturation. Fintechs pivot profitability as competition heats up.