🇧🇷 Brazil’s Digital Bank Race: PicPay is Closing in Fast
Hey Digital Banking Fanatic!
Brazil’s digital banking race just got a shake-up.
PicPay tripled its profit in H1 2025, hitting R$208.4 million (already 80% of last year’s full results) while growing its customer base to a massive 64 million accounts.
That makes it Brazil’s second-largest digital bank, and the country’s 7th biggest bank overall.
The growth story?
- Average revenue per active user jumped 76% to R$60.50
- Lending surged, with a credit portfolio of R$16 billion (3x YoY)
- Its wallet moved R$228 billion in transactions in six months 🤯
CEO Eduardo Chedid calls it proof PicPay can scale “with profitability and efficiency.” Investors call it a 20% ROE.
Either way, the app is turning into the main bank for millions of Brazilians, and giving Nubank a real rival for the crown.
Dive into more news updates below 👇 and kick off your week like a pro!
Cheers,
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NEWS
🇧🇷 PicPay triples profits and increases customer base. PicPay tripled its net profit in the first half of 2025, rising from R$61.8 million to R$208.4 million year-over-year. By June of this year, the app reached 64 million accounts, representing annual growth of 13%.
🇧🇷 Batista family to keep injecting capital into its PicPay FinTech. The capital raising comes at a time when PicPay is becoming more profitable because of a broader credit offering, something that also increases demand for capital. Read more
🇮🇪 Revolut to join Zippay in a major boost for banks’ instant payments project. While no timeline is set, Revolut says it supports initiatives that improve user experience and will join after careful evaluation. Zippay, set to launch in 2026, will let users send, request, and split payments via mobile numbers.
🇪🇺 ECB to conduct new digital euro experiments next year. The European Central Bank announced that it will conduct new experiments next year to explore the potential of a digital euro, marking a further step in a project it views as crucial for preserving the euro zone's financial autonomy from the United States.
🇺🇸 Bolt launches SuperApp, combining finance, crypto, and rewards all in one platform. Bridging the fiat-crypto gap and giving users a unified way to shop, spend, save, earn, and invest. The SuperApp now offers crypto trading, peer-to-peer transfers, digital banking, and commerce all in one integrated platform, eliminating the need for multiple standalone apps.
🇺🇸 Anchorage to double stablecoin team as Tether launch looms. The Digital Bank plans to more than double the size of its stablecoin team over the next year as a boom in digital dollars and new legislation prompts a rush for talent and products. Anchorage will be the legal issuer of the new token USAT, as part of a partnership with Tether.
🇺🇸 Citi and Dandelion collaborate to transform cross-border payments, enabling full value, near-instant payments into digital wallets across the globe. The collaboration empowers Citi’s institutional clients to deliver near-instant, full-value payments into digital wallets across the globe, with near 24/7 availability.
🇹🇷 Yapı Kredi and Mastercard usher in a new era of digital payments in Turkey. Thanks to this pioneering collaboration, Yapı Kredi customers will be able to complete their transactions in accordance with Yapı Kredi security standards using the card of their choice from any bank.
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