- Neobank promises to create an “economy without borders” here
- And for this, it prepares products for investors.
British fintech startup Revolut launches master Latin American market. Brazil was their first country in the region. Revolut opens its division here. It will be led by Glauber Moth, formerly of BTG Pactual.
Here is how the new director Glauber Moth comments on the project:
“There is a lot of demand in Brazil for Revolut and digital banking. Recent surveys show that over 45% of Brazilians already use digital accounts as their primary payment method. Local residents also use more than five different applications to manage payments, transfers and investments.”
Neobank will launch a range of services for crypto investors. It also prepares a bank card for its customers in Brazil, which supports transfers to 150 countries of the world. The card will offer the exchange of cryptocurrencies for fiat currencies of different countries.
“Our mission is to create a borderless economy with affordable and easy-to-use financial products that enable our clients to use their money effectively” — the company writes in a press release.
Now in Brazil, the leading position is occupied by the digital Nubank. He offered cryptocurrency trading in June 2022. A month later, the company reached a million users.