Revolut officially arrives in Brazil

The neobank Revolut announced its entry into the Latin American financial market, specifically in the Rio de Janeiro region

The British neobank and financial technology company, Revolut, announced its entry into the Latin American market with the launch of its services in Brazil.

The firm already offers services to clients in Europe and the United States and has formed a team in Brazil, including the appointment of its local CEO, Glauber Mota. In addition, the company has appointed a general director for Mexico and plans to employ more than 250 new talents in Mexico and Brazil by 2025.

The platform will offer a wide range of services, including cryptocurrency, remittances, and prepaid debit cards. Revolut has been expanding its catalog and adding new cryptocurrency-based services since it opened crypto trading in 2017.

The company suggests launching in Brazil amid growing interest in digital assets and digital banking services. With nearly 29 million customers worldwide, Revolut will compete with a long list of companies offering digital banking and cryptocurrency services in the country, including market leader Nubank, which introduced cryptocurrency trading in 2022. The platform has not provided details about its next expansion steps in its statement.

K. Tovar

Source: Diariobitcoin

(Reference image source: file)

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