Belo Introduces ACH Dollar Transfers into its Digital Wallets

?? NEWS HIGHLIGHT

• Belo introduces ACH dollar transfers into its digital wallets.

Belo, an Argentinian FinTech offering digital wallets to global freelancers and remote workers, announced a new feature that enables users to receive ACH transfers directly into their wallets.

Belo’s solution makes it easier for Latin American-based workers earning income from the US, to get paid and manage their finances. Belo’s new feature offers a direct payment method with a 2% fee and an APY of 3% on USDC balances, helping users retain more of the money they earned.

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NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS

?? REGIONAL HIGHLIGHTS

?? Brazilian FinTech a55 raises investment from Paysecure.

?? Celcoin to speed up M&A – CEO

?? FinTech Moonflow Raises $1.74M to Accelerate Product Development in Latam and Enhance Payment Platform.

?? Chilean Paytech Shinkansen Receives New Investment from Corporate Venture Capital Krealo.

BRAZIL

Nubank reaches 2 million active insurance policies in Brazil. Contributing to the success of the partnership is Nubank Vida, the first product co-created and launched by the companies in 2020, which has more than 1 million active policies.

Brazil's Largest Bank Itaú Opens Bitcoin and Crypto Trading to All Users. The bank opted to build its custody solution for clients' wallets rather than using third parties. Each user gets a separate wallet to ensure asset segregation.

Open Banking Platform Pluggy Receives Payment Initiator License in Brazil. The approval from the Central Bank is the first step for the FinTech to launch its payment initiation service.

Brazilian FinTech Celcoin Announces US$125 Million Investment Led by Summit Partners. The new funding will support Celcoin’s expansion plans as the company works to continue delivering new and innovative products to strengthen its leadership position in the BaaS and embedded finance market.

COLOMBIA

Google announced a $200,000 investment in the Colombian FinTech company BioCredit through its Google for Startups Cloud Program. This announcement comes at a crucial time for Colombia's FinTech ecosystem, which has experienced a 19.7% growth in the last five years, according to data from Colombia FinTech.

MEXICO

FinTech Finsus Acquires Distrito Pyme and Launches New Digital SME Loan in Mexico. The Finsus platform will begin to pre-authorize loans to SMEs from 500 thousand to 1.5 million pesos, with terms from three to 18 months.

Latin American e-commerce giant MercadoLibre's FinTech arm, Mercado Pago, has seen adoption of its slim mobile credit-card readers more than double in the past year, gaining on competing options from banks and Clip, an executive said.

LatAm FinTech Prometeo enters US. With this launch, the company enables Latin American businesses to connect with 100% of US banks via one integration with a single provider and API.

Mexico’s Payments startup Clip has raised $100 million. The investment will be used to continue growing in its home market of Mexico, said Clip Founder and CEO Adolfo Babatz in an interview.

Ecuadorian FinTech PayMon starts operations in Mexico with its specialized software for the digitization of coffee shops. This innovative system has demonstrated a significant impact, increasing sales by an average of 25% and saving customers hours of daily administrative work.

Citibanamex partners with Belvo to promote greater financial inclusion, enabling individuals who are currently outside the banking system to access credit. Through Open Finance, both companies seek to provide more people with access to financial products and services in Mexico.

PARAGUAY

FinTech Argentina PayGoal Collaborates with Bancard to Launch Tokefon in Paraguay. PayGoal, the Argentine startup that helps companies develop their FinTech capabilities with innovative products, collaborated with Bancard, Paraguay's main acquirer, in the development of Tokefon. It is a solution that uses the NFC technology of cell phones to accept contactless payments.

URUGUAY

UK regulators imposed a series of restrictions on a financial-technology company owned by Uruguay’s first-ever billionaires as part of a widening crackdown on payments firms that process hundreds of millions of dollars worth of transactions every day.