Revolut Moves In, Nubank Doubles Down: Brazil Becomes FinTech’s Next Big Bet
Hey Digital Banking Fanatic!
Brazil might be famous for football, beaches, and samba, but this week, it's FinTechs putting on the real show.
Nubank has gone offline to double down on digital loyalty, officially launching physical SIM cards through NuCel that customers can order directly from the app. Free delivery, easy activation, and suddenly your bank is also your mobile provider.
Not to be outdone, Revolut is revving its Brazilian engine. The UK FinTech darling is preparing its U.S. investment platform for launch in Brazil, aiming for neobank dominance and possibly a valuation that surpasses Nubank's. With debit cards, multi-currency accounts, and soon-to-come business banking, it’s clear: the Brits aren’t just visiting, they’re planning to move in.
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NEWS
🇧🇷 Close to beating Nubank's value, Revolut competes for space in Brazil. Amid talks for a new round of investment that could lead it to surpass Nubank's valuation, British fintech Revolut is expected to target Brazilian neobanks as its main rivals in its Latin American expansion plan.
🇧🇷 NuCel launches physical chip and expands purchasing options for customers. Customers in Brazil will be able to purchase the chip directly through the NuCel tab in the app and have it shipped directly home, at no cost, and in just a few days.
🇳🇱 Trade Republic launches its Dutch banking offering. The Dutch current account allows customers to receive their salary, make instant transfers free of charge, or pay their bills. It also includes 1 percent Saveback on card payments, no ATM fees for withdrawals over 100 euros, and no surcharges for global transactions.
🇦🇪 Wio invest surpasses $1bln in assets under administration. Starting with capabilities like access to US markets, the platform has expanded to now include UAE markets, virtual assets, and wealth management portfolios, consistently adapting to customer demand and quickly establishing itself as a safe, local platform.
🇬🇧 Lloyds signs for NCR Atleos ATMaaS tech. The experts at NCR Atleos will manage hardware, software, logical security, installation, maintenance, cash forecasting, and processing for these key strategic locations. This will allow the bank to optimize availability while more quickly implementing new features and functionality.
🇬🇧 LHV Bank joins RT1 to boost instant euro payments. This milestone marks a significant advance in the Bank’s commitment to driving digital transformation and delivering faster, more efficient cross-border payment solutions. By integrating directly with the RT1 SCT Inst scheme, LHV Bank removes the traditional limitations associated with indirect access.
🇺🇸 Goldman Sachs and BNY join forces to transform $7.1 trillion money market industry with digital tokens. Clients of BNY, the world’s largest custody bank, will be able to invest in money market funds whose ownership will be recorded on Goldman’s blockchain platform.
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