#TopNews: The key news in LatAm digital banking, fintech and payments: Nubank reaches a US$30bn valuation; Brazil’s BS2 makes fintech acquisition, Citibanamex, Dann Regional make digital banking advances
The Brazilian neobank has raised US $ 500million from Warren Buffet Berkshire Hathaway. With this further expansion of its Series G funding round, Nubank boats a valuation of US$ 30billion.
Bitcoin is now legal tender in El Salvador, the first economy to officially adopt a cryptocurrency. This country’s Bitcoin Law approves its use in all types of payments. In accounting terms, the dollar will be used as the reference currency, and the exchange rate between the two will be freely established by the market.
Digital bank BS2 has acquired the Israeli credit fintech WEEL with the aim of becoming the first B2B neobank in Brazil. With the new merger, the bank will seek to create a comprehensive offer for small and medium-sized Brazilian companies.
In Mexico, Citibanamex has released its first open data interface, which will allow customers to share their transactional information immediately, securely and 100% digitally with third parties authorized by the National Banking and Securities Commission (CNBV). The APIs respond to incoming regulatory requirements.
The Colombian financial institution Financiera Dann Regional has launches Iris, a neobank specialized in serving corporate clients. The digital arm of Financiera Dann Regional – whose operating capital is US$ 50 billion – has as its first product a 100% digital savings account, with free interbank transactions and no handling fee.
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