Brazil's central bank policies encourage fintech startups

Brazil's central bank policies encourage fintech startups

Economy & Policy IPO M&A People Brazil

Chinese billionaire Jack Ma’s Ant Financial, the dominant Chinese fintech company, and Warren Buffett’s Berkshire Hathaway both invested in the 2018 initial price offering of Brazilian payments firm StoneCo. Energy and agricultural conglomerate Cosan, which is controlled by Brazilian tycoon Rubens Ometto, is launching its own version of a digital wallet to process payments and money transfers through smartphones. The former chairman of Brazilian investment bank BTG Pactual, Marcelo Kalim, has teamed up with other former BTG Pactual executives to launch a new online bank, C6. These are some of the latest examples of the fintech frenzy sweeping Brazil. It’s a boom that not only reflects the

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