Neon's fundraising comes at a time when the banking sector has seen default rates increase in Brazil.
Nubank announced in October the creation of the digital currency, which is part of its new blockchain and crypto-assets initiative in LatAm.
Despite fintechs making inroads, a recent survey shows inclusion progress has not been as swift as expected, especially for women.
Credit granted by fintechs in Brazil reached 55 billion reais in 2021, up tenfold in the 2016-2021 period, according to Serasa Experian.
According to Creditas' recently released figures, the company recorded a loss of $26 million, a 60% drop from the same period in 2022.
RappiPay announced it has obtained financing for $112 million in credit to increase its service offering and consolidate the RappiCard.
Cryptocurrency regulation has been embedded into broader financial technology regulation or postponed in a "wait and see" approach.
US fintech giant Fiserv acquired Argentine digital wallet Yacare to ramp up its offering to clients and compete with Mercado Libre.
The Brazilian fintech company is opening an office today in Mexico and it is the first step in what might...
As the crypto wave continues to sweep Latin America, both banks and fintechs are crafting an expanding crypto offering in Brazil.