Posts Tagged ‘Brazil’

Brazilian Tax Regulator Publishes Draft on Cryptocurrency Taxation

The Department of Federal Revenue of Brazil (RFB), which administers tax collection in the country, has announced that Brazil-based crypto exchanges are now obliged to send them detailed reports on all crypto-related operations on monthly basis. For instance, the companies have to reveal the amounts of transactions and the identity of the customers. Moreover, both legal entities […]

Brazilian fintech startup REBEL raises $4 million in Series A funding to invest in its technology platform, product development, and accelerate customer growth

REBEL, a Brazilian fintech startup with a focus on online credit for the middle class, has $4 million a Series A funding round to further invest in its proprietary technology platform and product development, as well as to grow its customer base and loan book. The round was led by XP Asset Management, an affiliate […]

Brazil’s fintech startup StoneCo attracts Buffett and Jack Ma

Chinese fintech giant Ant Financial, an affiliate of Alibaba Group controlled by billionaire Jack Ma, has agreed to invest in Brazilian payments firm StoneCo’s IPO, shortly after rival Tencent announced its investment in Brazilian fintech startup Nubank. Ant Financial has committed to invest US$100 million in the company’s share offering on the Nasdaq. StoneCo’s IPO […]

Tencent Buys Stake in Brazilian Fintech Startup

Chinese internet giant Tencent Holdings Ltd. acquired a stake in Brazilian fintech company Nubank in a deal valued at $180 million, expanding Tencent’s emerging markets investment spree to South America. Tencent’s investment increased Nubank’s valuation to $4 billion, making it one of the most highly valued privately held startups in South America. Nubank has more than 5 […]

Brazil’s Biggest Brokerage is Officially Joining the Cryptocurrency Markets

Grupo XP, the owner of XP Investmentos SA, the largest independent brokerage in Brazil, announced that they would be moving into the cryptocurrency markets by offering a platform exchange for Bitcoin and Ethereum in the coming months. Currently, cryptocurrency’s popularity is exploding in Brazil, with investors having five times as much exposure to Bitcoin as they […]

Brazilian Football Club Avaí to Launch Cryptocurrency, $20 Million ICO

Avaí FC has partnered with blockchain-based sports investment ecosystem SportyCo and football investment platform Blackbridge Sports to raise funds worldwide through the ICO, aiming to raise $20 million in the sale. The coin, dubbed Avaí FC Token, is said to be available for sale in October, with the ICO ending in early November. Football fans […]

FinTech Roadshow to Brazil, a Certified Trade Mission for U.S. Investors, Incubators, and FinTech Companies

The FinTech Roadshow to Brazil, a Certified Trade Mission, provides an excellent opportunity for U.S. firms to promote themselves to and connect with leading companies in Brazil’s FinTech and financial sectors. At the FinTech Roadshow to Brazil, U.S. participants will have 8-10 one-on-one meetings with executives from pre-qualified, vetted Brazilian FinTech and financial companies, startups, […]

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 […]