Colombia Open for Fintech | TWIF Latin America

🇨🇴 Plata, the Mexican digital bank valued at $5 billion, doubled its planned investment in Colombia to $120 million, days after launching savings and term deposit products there, with credit cards and loans due in 2027.

🇲🇽 Reap, the Hong Kong stablecoin card issuer owned by Kraken's parent Payward, announced plans for a Mexican peso stablecoin to cut the 5% to 7% fees on cross-border currency exchange, alongside a Visa deal extending its stablecoin credit card programs to more than 100 markets.

🇨🇴 dale!, Grupo Aval's digital wallet, launched stablecoin-based digital dollar and euro accounts built with Akaunt for its more than 5 million users, paying up to 5% a year on balances above $50 and adding a free Mastercard for spending abroad.

🇦🇷 Binance launched a physical prepaid card in Argentina, issued by Pomelo, that converts Bitcoin, USDT and other crypto into pesos at checkout and pays 3% back in USDC until year-end, capped at 100 USDC a month.

🇲🇽 Klar, the Mexican digital lender, opened business credit to self-employed professionals and sole proprietors, a segment of 10 to 12 million taxpayers, with up to 6% cashback on digital ad spend.

🇧🇷 Banco Central do Brasil tightened Pix anti-fraud rules, letting institutions flag suspected fraudsters for up to five years, and will open Pix Automático to payroll accounts in July 2027.

🇧🇷 CVM, Brazil's securities regulator, received a draft proposal for a 60-day pilot to test issuing and trading tokenized securities on blockchain networks, pending board approval.

🇧🇷 Onda Finance, a stablecoin and cross-border payments startup, became the first crypto firm that Brazil's central bank publicly listed as "in the authorization process" under the new virtual asset regime, ahead of the October 30 deadline for existing players to apply.

🇨🇴 Nu announced it will invest about $1.6 billion in Colombia through 2030, as it marks five years in the country with about $3.4 billion in deposits. 

🇨🇴 After securing its Colombian banking license, Revolut unveiled its launch plan: five subscription plans, 1,000 ATMs over five years and a pilot before year-end, ahead of a public rollout in the first half of 2027. 

🇵🇪 Bold, the Colombian payments fintech, secured approval to operate in Peru under its own brand after buying VendeMás from Niubiz, and is preparing to apply for a financial license there.

🇵🇪 Wallbit, the Argentine digital wallet for remote workers paid in dollars, launched in Peru and plans to enter Mexico in the first quarter of 2027.