Mercado Pago, the fintech arm of Latin America e-commerce giant Mercado Libre, reported a significant milestone in its fintech business.
Digital banks in Brazil are finally making inroads into one of the most competitive and highly profitable credit markets in the world.
The Mexican operation represents Nubank's second-largest market and is seen as a strategic target in the company's internationalization plan.
These numbers consolidate Nubank as the fifth-largest financial company in Brazil by customers.
Shares of Nubank have weakened since its initial public offering, losing some $20 billion in market value since it went public.
More than two dozens neobanks are vying for digital customers in Mexico, Latin America's second-largest economy.
Nubank, the largest neobank in Latin America, will introduce USDC to its Brazilian clients, a significant advancement for the stablecoin.
Warren Buffett-backed Nubank reported a 44% increase in profits in the second quarter, as it expands its customer base in Latin America.
The Brazilian fintech company is opening an office today in Mexico and it is the first step in what might...
Brazilian neobank Nubank reached 90 million customers in Latin America and reported a surge in profits in Q3.