Revolut has launched its product for the first time in Latin America, offering multi-currency accounts and crypto investments in Brazil. Brazil is Latin America’s largest market for financial services, a key corridor for the large remittances market. It has an increasingly digitalizing population, going up rapidly from the low base. The market is competitive, with Nubank being the main rival. However, the market opportunity is huge, with transaction value of digital commerce in Latin America estimated at more than $100 billion in 2019 and now expected to increase by about 73% by 2025, according to Statista.
Source: https://techcrunch.com/2023/05/04/fintech-liquido-stripe-of-latam-payments/
https://www.altfi.com/article/10659_revolut-takes-on-nubank-with-brazil-launch-and-latam-push
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