- Neobank promises to create an “economy without borders” here
- And is preparing products for investors to do so
British fintech startup Revolut is starting to explore the Latin American market. Their first country in the region was Brazil.
Revolut opens a division here. It will be led by Glauber Moth, formerly of BTG Pactual. This is how the new director Glauber Moth comments on the project:
“In Brazil, there is great demand for Revolut and digital banking. Recent surveys show that more than 45% of Brazilians already use digital accounts as their primary method of payment.
Locals also use more than five different apps to manage payments, transfers and investments.”
Neobank will launch a range of services for crypto investors. And it is also preparing its customers in Brazil a bank card that supports transfers to 150 countries.
The card will offer the exchange of cryptocurrencies for fiat currencies from different countries.
“Our mission is to create an economy without borders with affordable and easy-to-use financial products that allow our customers to use their money efficiently,” the company writes in its press release.
The digital Nubank is currently leading in Brazil. He proposed cryptocurrency trading in June 2022. And within a month, the company had already reached one million users.