The future of finance in LatAm & the Caribbean

The Caribbean continues to push its digital currency; Mundi closes investment for US $ 7.8M

Feb 26, 2021

By Fabiola Seminario
Digital currency
#TopNews: The key fintech and digital banking news this week: The Caribbean continues with digital currency momentum; Mundi closes investment for US $ 7.8M; and more

 

The Caribbean continues to promote transactions with digital currency

The Central Bank of the Eastern Caribbean (ECCB) and the payment platform Bitt, completed the first transaction in their digital currency DCash on the island of Grenada. The ECCB also began issuing DCash to various entities so that customers can shop at merchants. The Caribbean continues to make advances in central bank issued digital currencies (CBDCs), after the Bahamas recently announced that Mastercard customers will be able to use their virtual Sand Dollar.

Mundi closes seed round for US $ 7.8M

The fintech financing for exporters closed its seed investment round for US $ 7.8 million, led by Base10 and with the participation of FJ Labs and various angel investors. Recently, Mundi expanded its products, now available for commercial routes from Mexico to the whole world.

GeoPagos lands in Chile

The Argentine payment solutions fintech has just arrived in Chile as part of its expansion plan in the region. Currently, GeoPagos also has operations in Peru, Mexico and Uruguay.

See also: Open Banking in LatAm: The State of Play

Credit fintechs will benefit the most from open finance, study says

Loan businesses will benefit the most from open finance models, according to a study by Belvo, a Latin American API platform. Along the same lines, other verticals that will take advantage of this trend will be credit scoring, personal finance management tools and payment solutions.

BBVA and Google Cloud will use AI to optimize security

BBVA and Google Cloud signed an alliance with the aim of improving and optimizing the bank’s security infrastructure. To do this, big tech will use Artificial Intelligence (AI) and machine learning (ML) to predict and prevent cyberattacks, and provide greater security to the entity’s clients.

See also: Competition heats up among Argentina’s digital wallets

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