Posts Tagged ‘Brazil’

Brazil central bank liquidates Banco Neon in fintech setback

Brazil’s central bank liquidated small lender Banco Neon SA on May 4 due to a breach of regulations, and suspended operations of an associated tech startup that had raised $22 million in venture capital the day before. Neon Pagamentos SA – a fintech startup that used the infrastructure of Banco Neon to process checking accounts […]

Morgan Stanley to Follow Goldman in Bet on Brazilian Fintech

Morgan Stanley is following Goldman Sachs Group Inc. in lending to Brazil’s booming fintech industry in search of higher yields, according to four people with direct knowledge of the matter. Morgan Stanley bought about 50 million reais ($14 million) in local subordinated bonds from Geru Tecnologia e Servicos SA, an online lender to individuals. Financial-technology startups have boomed in […]

Brazilian Crypto Businesses, Exchanges Create “Rival” Cryptocurrency Associations

Brazil’s largest cryptocurrency exchanges, including Bitcointrade, Mercado Bitcoin, Foxbit, and others, recently joined forces to create a cryptocurrency association whose goal is to defend the interests of cryptocurrency users. The organization recently found out other companies created a “rival” association. The two projects seemingly have different takes on potential cryptocurrency regulations, but believe they should […]