LatAm Tech Weekly
#209: ChatGPT Atlas, Google's AI Studio, Tokenization & Crypto, deals of the week... and much more!
Weekly writing about what is happening in LatAm tech. By day, I lead the business development team at Itau Unibanco. By night, I am reading and learning about technology in general (now, with a focus on AI). During the weekends, I’m writing the LatAm Tech Weekly.
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Happy Sunday!
Every week, I tell myself I’ll start this newsletter without talking about AI. And every week, I fail spectacularly. There’s always a major announcement or product launch that’s just too relevant to skip — and this week was no exception. I really thought I’d finally get to cover another hot topic — stablecoins and tokenization — especially with all the great reports that dropped: a16z’s State of Crypto, Valor’s The Brazil Stack, and the Brazil Tokenization Report 2025 (hyperlinks in the What am I reading section). But then came ChatGPT’s Atlas and Google’s AI Studio. So, while I’ll still highlight those reports, we’re inevitably drifting back to AI.
Sorry, not sorry. Let’s dig in.
The Convergence Moment: How Stablecoins, Tokenization, and the Brazil Stack Are Redefining Global Finance
Over the past week, three landmark reports have converged around a single thesis: the financial system is quietly but decisively moving on-chain. a16z’s State of Crypto 2025, Valor Capital’s The Brazil Stack, and The Brazil Tokenization Report 2025 all describe different facets of the same transformation — one where regulation, infrastructure, and user behavior are finally aligned to make blockchain finance mainstream.
Together, they paint a clear picture: crypto has grown up, tokenization is scaling, and Brazil has become a global model for digital financial architecture.
1. From Speculation to Infrastructure (a16z – State of Crypto 2025)
According to a16z’s State of Crypto 2025, the crypto market has reached structural maturity. The report highlights that blockchains now process over 3,400 transactions per second — a 100x improvement in five years — and that stablecoins have achieved parity with traditional payment rails, powering US$9 trillion in annual transactions, comparable to Visa and PayPal volumes.
More importantly, traditional finance has entered the chat. Firms like BlackRock, JPMorgan, Fidelity, and Visa are no longer observers; they are builders and product issuers. Bitcoin and Ethereum ETFs together now hold US$175 billion in AUM, and stablecoins have become the de facto liquidity layer connecting exchanges, fintechs, and banks.
In this new phase, the differentiator is not infrastructure but user experience. As a16z notes, the next wave of adoption will be led by whoever controls the interface — most likely Big Techs. With Apple, Amazon, and Google already experimenting with payment and wallet integrations, it’s only a matter of time before they embed stablecoin rails or tokenized balances natively into their ecosystems. The conclusion is striking: crypto won’t disappear — it will become invisible.
2. The Brazil Stack: A National Blueprint for Digital Finance (Valor Capital Group)
If the U.S. and Europe are setting rules for the global on-chain economy, Brazil is showing how to implement them at national scale. Valor Capital Group’s The Brazil Stack, developed with McKinsey, presents Brazil as a decade-long experiment in regulatory foresight — a living case study of how state-led digital infrastructure can democratize finance.
The “Brazil Stack” unites Pix, Open Finance, Gov.br, and Drex — four interoperable platforms that have transformed how 100 million Brazilians pay, borrow, and invest.
Pix, Brazil’s instant payment system launched in 2020, processed over 78 billion transactions in 2025, now used by more than 76% of the population.
Open Finance makes data available for 42 million individuals across 800 institutions, enabling real-time credit and product comparisons.
Gov.br provides 167 million citizens with secure digital identity credentials, anchoring the financial system in verified ID.
And Drex, the Central Bank’s blockchain initiative, is now the foundation for tokenized and programmable money, linking public infrastructure with private innovation.
The report underscores how policy sequencing — not isolated innovation — explains Brazil’s success. Since 2014, regulatory reforms have brought 70 million new citizens into the banking system, supported by securitization vehicles (FIDCs), registries, and open competition in acquiring. Today, cash represents less than 30% of point-of-sale transactions, and over R$3.6 trillion (~US$670 billion) moves annually through cards.
The result is a mature digital ecosystem recognized globally. Brazil’s Central Bank was named the world’s most innovative monetary authority in both 2021 and 2024, and the country now ranks #2 in the global GovTech Index. As Bruno Batavia of Valor puts it, “What we are seeing now is the convergence of a decade of regulatory, technological, and market advances.”
In essence, the Brazil Stack is not just fintech innovation — it’s a public-private operating system for finance, ready to integrate stablecoins, AI, and tokenized assets at scale.
3. The Global Convergence: Regulation Meets Tokenization (Brazil Tokenization Report 2025)
While Valor’s report shows the infrastructure and a16z highlights adoption, The Brazil Tokenization Report 2025 – The Convergence Moment explains why 2025 became the tipping point. The report, authored by Nexa and Fintrender, calls this moment “the convergence of regulation, institutions, and innovation” — a phase where tokenization and stablecoins are no longer parallel narratives but the same story.
Stablecoins Take Center Stage
Stablecoins have officially replaced CBDCs as the preferred rails for digital finance.
Global stablecoin circulation now exceeds US$300 billion, moving US$3.5 trillion per month — more than Visa and Mastercard combined.
The U.S. GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), signed in July 2025, became the first federal law to regulate payment stablecoins. It mandates 1:1 reserves in short-term Treasuries, monthly audits, and bans interest-bearing models to prevent “digital bank runs.”
In parallel, Europe’s MiCA regulation went fully live, unifying the bloc’s crypto rules, while Singapore, Hong Kong, and the UAE launched pilot frameworks for tokenization and stablecoin issuance.
This global regulatory clarity has transformed stablecoins into the monetary plumbing of the internet. Even central banks have slowed their CBDC pilots, acknowledging that private stablecoins have already solved cross-border payments more efficiently.
Tokenization Goes Mainstream
The report identifies 2025 as the year tokenization left the lab.
Real-world asset (RWA) tokenization has surpassed US$30 billion in circulation, with forecasts of US$16 trillion–US$30 trillion by 2030.
Institutions such as BlackRock (BUIDL), WisdomTree, Apollo, and VanEck have moved from pilot to production, launching tokenized funds and Treasuries.
In DeFi, total value locked (TVL) surpassed US$500 billion, with stablecoins acting as the backbone for liquidity and settlement.
As the report puts it: “If stablecoins were the killer app, RWAs are the iPhone moment.”
4. Brazil’s Role in the On-Chain Economy
All three reports converge on one conclusion: Brazil is the world’s most advanced real-world testbed for digital finance.
According to the Brazil Tokenization Report, 90% of all crypto activity in Brazil already involves stablecoins, and at least four BRL-backed tokens (BRZ, BRLA, BRL1, BBRL) are live — most backed by Brazilian Treasuries or other high-quality liquid assets (HQLAs).
On the regulatory side, Brazil is moving fast:
PL 4.308/2024 (stablecoin law) and PL 4.932/2023 (asset segregation for payment service providers) are advancing in Congress.
The CVM’s Resolution 88 update aims to integrate tokenized instruments into crowdfunding and private offerings, broadening access to retail investors.
Both CVM and BCB are aligning their vocabularies — one focused on cryptoassets as securities, the other on VASPs (Virtual Asset Service Providers) — to create a unified on-chain regulatory perimeter.
In short, Brazil has built not only the legal and technological rails but also the institutional trust to export its framework. If the U.S. provides regulatory clarity and Europe the capital markets infrastructure, Brazil brings the operating model for financial inclusion at scale.
5. The Road Ahead: From Fragmentation to Integration
Across all three reports, a pattern emerges: the global financial system is shifting from fragmented innovation to integrated infrastructure.
a16z frames it as the moment when crypto disappears into UX.
Valor shows how regulators can orchestrate innovation at national scale.
The Brazil Tokenization Report proves that with regulatory clarity, tokenization becomes capital in motion.
The convergence of these perspectives suggests that the future of finance won’t be built by crypto-native startups alone — it will be shaped by an alliance between banks, Big Tech, and public institutions, each controlling different layers of the new stack:
Public infrastructure (Pix, Open Finance, Drex, Gov.br)
Private innovation (stablecoins, tokenized RWAs)
Interface ownership (Banks and Big Techs)
6. The Bottom Line
2025 is the year finance finally went on-chain — not as a speculative mania, but as a regulated, interoperable, and programmable system.
From a16z, we learned that the crypto narrative has matured — infrastructure over hype.
From Valor, we saw that Brazil already runs a national version of that infrastructure — policy over chaos.
From Nexa’s Tokenization Report, we understood that the global plumbing is in place — tokenization over experimentation.
The next phase will be about integration: embedding these capabilities invisibly into everyday finance. When that happens, we won’t talk about crypto, stablecoins, or tokenization anymore — we’ll just call it money.
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Opinions expressed here are solely my own and does not represent those of people, institutions, organizations that I may or may not be associated with in any capacity, unless explicitly stated.
Now, we’ll shift to AI (yet again)...
The week’s big splash came from OpenAI with ChatGPT Atlas, the newly-launched browser that folds the ChatGPT experience into your everyday tabs. Rather than switching between a chatbot and browser, you now have a sidebar assistant that can summarize articles, analyze numbers, fill out forms, and even perform tasks via the “Agent Mode” preview. While many readers are excited about a smarter, more integrated browsing experience, a wave of concern is rising over data-and-privacy control: Atlas remembers what you do (unless you opt out) and explicitly competes with chrome’s dominance. In the context of finance and fintech, this shift means one less hurdle between user intent and action — imagine Bob in São Paulo asking the browser to compare tokenization platforms, check stable-coin flows and then initiate a transaction, all without leaving the page. For our ecosystem that means further compression of time-to-value, and yet another layer of abstraction to business models built on human-agent-intervention.
On the other side, Google just pushed forward its developer platform Google AI Studio, which now offers a unified “build” workspace housing models like Gemini 2.5 Pro, GenMedia, Veo 3 and more — all accessible via a streamlined UI, with real-time usage metrics, rate limits, and GitHub integration. Responses from builders are particularly enthusiastic: non-technical users now talk about spinning up full AI-powered apps live in minutes with “vibe coding”. Yes, vibe coding continues to be the term for 2025.
For the LatAm fintech scene this matters deeply: if tokenization, AI-driven credit flows, or embedded stable-coin rails become a norm, then platforms like AI Studio will lower the barrier for teams to build/adapt their offerings, faster and with fewer resources. In short — we’re moving from “ideas requiring bespoke AI infrastructure” to “ideas deployable on demand with three clicks”.
General news:
● Global fintech Revolut received approval from Mexico’s CNBV and central bank, allowing it to operate as a fully licensed financial institution. The license enables regulated banking services with deposits insured up to MXN 3.4M (≈R$1M). CEO Juan Miguel Guerra called it a milestone for expanding financial access across Latin America. 🇲🇽
● Mastercard launched its ultra-premium credit card, World Legend, in Brazil, its second market after the U.S. Seven issuers—including Itaú—will distribute the card, aimed at clients earning R$90K+ monthly. Mastercard describes it as embodying “quiet luxury”, strengthening its presence among Brazil’s top earners. 🇧🇷
● A DNS failure in AWS’s US-EAST-1 region triggered a major global outage, disrupting services for banks, trading apps, Zoom, Signal, Roblox, and Prime Video. AWS attributed the issue to DynamoDB and has fully restored services. The incident underscores the systemic risk of the world’s heavy reliance on AWS, which powers 30% of global cloud infrastructure. 🇺🇸
● Recife’s Porto Digital is positioning itself as Brazil’s next major tech hub. With 21K direct jobs and R$6.4B in annual revenue, it has become the city’s third-largest taxpayer. The hub aims to make Recife Brazil’s tech capital by 2026 and its top job creator by 2050, supporting over 160 startups in 2025 alone. 🇧🇷
Deals:
● Agent.Shop, founded by Eduardo Petrelli (ex-James Delivery), raised R$5.5M from Maya, Caravela, and Mira Capital to scale its AI-driven “agentic commerce” platform for chat-based shopping. Integrated with WhatsApp, it has achieved 7× higher conversion and 10× ROI, positioning itself as “the Shopify for the conversational era.” 🇧🇷
● AmFi partnered with Singapore-based Helix to distribute Brazilian credit assets to global investors via blockchain. The first product—a receivables token offering 12% annual USD returns—connects Brazil’s credit market to Asian liquidity. AmFi plans to distribute US$100M in tokenized assets via Singapore by 2026. 🇧🇷🇸🇬
● Valetec Capital was selected to manage a R$500M energy-transition fund, backed by Petrobras, BNDES, and Finep. Set to launch in 2026, the fund will invest in 15 Brazilian SMEs in renewables, storage, e-mobility, and carbon capture, reinforcing Valetec’s leadership in Brazil’s green innovation ecosystem. 🇧🇷
● Brazilian proptech Lugui raised R$1.5M in angel funding to automate real estate workflows via AI agents on WhatsApp. The platform handles tenant checks, documentation, and contracts, reducing admin time by 90%. Lugui already serves 15 clients and targets R$1M in annual revenue by 2026. 🇧🇷
● Preâmbulo Tech acquired a 51% stake in AI lawtech Cria.Al for R$10M, marking a rare exit for venture builder Aleve. Cria.Al automates legal document drafting for SMEs, scanning thousands of pages to generate drafts. Preâmbulo will integrate the tool into its platform serving 5,000 clients and 14M active cases. 🇧🇷
● Former Mercado Bitcoin cofounder Maurício Chamati launched Jumpad, a self-hosted AI deployment startup backed by US$1M pre-seed funding. The platform lets companies integrate models like GPT, Gemini, and Llama while protecting proprietary data, helping businesses capture AI-driven revenue faster. 🇧🇷
General news:
● A São Paulo court ruled in favor of China’s Meituan-owned Keeta in its lawsuit against 99Food (DiDi). The court found 99Food’s exclusivity contracts with restaurants to be an illegal restriction on competition and ordered the company to stop using them. Keeta alleged 99Food offered R$900M in incentives to block competitors. The decision precedes Keeta’s Brazil launch on Oct 30, backed by a R$5.6B investment plan. 🇧🇷🇨🇳
● Cubo Itaú will lead a mission to Sweden and Finland this November to connect Brazilian startups, corporates, and investors with Nordic innovation hubs. The initiative aims to foster partnerships around sustainability, deep tech, and impact, bridging Latin America with global tech frontiers. 🇧🇷🇫🇮🇸🇪
● Rooftop has turned its HomeCash program into Brazil’s 4th largest real estate product, moving R$55M in H1 2025 and targeting R$120M by year-end. The model allows homeowners to unlock up to 60% of their property’s value while retaining buyback rights. Backed by a B3-listed fund, 80% of users leverage HomeCash to pay debts or reinvest, reflecting growing demand for real estate liquidity. 🇧🇷
● Maravi now processes over R$150B in assets for 50+ asset and wealth managers, including GV Atacama, Tarpon, and Fator. Founded by Verônica Taquette, the fintech reached breakeven in May 2025 and adds three clients per month. Its cloud-native, AI-powered platform streamlines fund operations, risk, and compliance for Brazil’s investment management market. 🇧🇷
● Unlimit obtained a Payment Institution license from Brazil’s Central Bank, allowing it to directly connect to the national payment system (SPB) and expand Pix-based services. With R$46M in capital, the global fintech plans to offer multi-currency accounts and white-label cards to enhance borderless financial operations in Brazil. 🇧🇷🇬🇧
● Liv Up is investing R$15M in its largest logistics expansion to date — opening 70+ hubs and dark stores nationwide. The initiative aims to boost efficiency, expand national coverage, and shorten delivery times as the foodtech targets R$1B in revenue by 2030. 🇧🇷
● A major Pix-related cyberattack hit fintech FictorPay through its software provider Diletta, resulting in losses of at least R$26M — possibly up to R$40M. The breach, caused by stolen employee credentials, highlights vulnerabilities in Brazil’s BaaS ecosystem and is intensifying calls for tighter cybersecurity oversight. 🇧🇷
Deals:
● Velotax raised R$125M in a Series A led by QED Investors, Valor Capital, and Picus Capital to evolve from a tax-filing app into a full financial platform. The fintech will expand into personal loans, payroll credit, insurance, and debt management, using AI for smarter credit scoring and launching a new superapp strategy. 🇧🇷
● Welli secured $75M in structured debt from Community Investment Management to expand access to healthcare financing across Latin America. The Colombian fintech will use the funds to support healthcare providers and patients, following its $20M Series A in June 2025. 🇨🇴
● Spark acquired data-intelligence startup Human Data for R$8M to enhance its AI-driven influence marketing capabilities. Human Data co-founders Otávio Ereno and Fernando Covac will lead Spark’s new business and data science divisions. 🇧🇷
● DS Marketing raised R$5M from Triaxis and Crescera’s Criatec 4 fund to accelerate growth among small retailers. The martech automates multichannel marketing via AI-powered design tools and aims to reach R$50M in annual revenue by 2028. 🇧🇷
● Draiven raised R$750K in an angel round backed by investors from Google, Raccoon, and Beta Learning. Founded by tech veterans, the AI startup develops agents that turn corporate data into instant, accurate decisions with minimal hallucination rates. 🇧🇷
General News:
● Itaú’s new survey reveals that Brazilians want AI as a financial “copilot,” not an “autopilot.” Two in three consumers expect AI tools to help guide smarter financial decisions, especially Gen Z users, who favor personalized insights and spending guidance. The findings highlight a shift from passive banking to strategic, AI-assisted finance. 🇧🇷
● Cubo Itaú marked its 10-year anniversary with a new brand identity. Inspired by the simplicity of a pixel, the rebrand reflects Cubo’s evolution from a startup hub to a full innovation ecosystem focused on technology, community, and business generation — positioning Latin America as a global innovation player. 🇧🇷
● Mercado Livre is intensifying Brazil’s e-commerce price war by monitoring competitor platforms like Amazon and Shopee. Sellers will be notified if rivals list lower prices and given three days to match them or face reduced visibility and promotion access. Itaú BBA called the strategy “aggressive but smart,” reinforcing Mercado Livre’s leadership ahead of Black Friday. 🇧🇷
● Itaú unveiled new AI-powered features to enhance security and experience. A “protected mode” lets clients set trusted Wi-Fi networks, requiring biometrics elsewhere, while Pix via WhatsApp now supports voice, photos, and split payments with 90% AI accuracy. The bank is also testing a conversational AI agent for personalized financial guidance. 🇧🇷
● WhatsApp will ban general-purpose AI chatbots like ChatGPT, Luzia, and Zapia from its Business API starting Jan 15, 2026. Meta said the API is meant for business–customer interactions, not AI assistants. The change will shut down integrations such as ChatGPT’s WhatsApp link. OpenAI confirmed the service will end next year, advising users to back up their chats. Meta will reserve AI chatbot access for its own ecosystem. 🇺🇸
● HSBC analysts said OpenAI’s new AI-powered browser Atlas is unlikely to threaten Google Chrome’s dominance. While Atlas introduces new features, most already exist in Chrome through Gemini integration. HSBC views the launch as a response to Google’s growing AI lead — Gemini has nearly doubled its market share in the past year, aided by Android integration. With 3B Chrome users versus ChatGPT’s 800M, Google remains comfortably ahead. 🇺🇸
● EvidJuri, founded in 2016 by lawyer-turned-entrepreneur Sthefano Cruvinel, has become Brazil’s leading “audittech.” Combining legal and technical expertise, it accelerates court cases with data-driven forensic reports that achieve 90% success rates. The company manages R$1.2B in receivables, works with major law firms, and is projected to exceed R$80M in revenue this year — reaching a valuation near R$1B. 🇧🇷
● São Paulo FC, together with FCJ Group and Sportheca, launched Inova.São Ventures, a Corporate Venture Builder designed to integrate startups into the club’s ecosystem. The initiative aims to raise R$11M and generate R$90M in new business by 2030, focusing on athlete performance, fan engagement, smart stadiums, and new business models. 🇧🇷⚽
● Pix remains Brazil’s dominant payment method, used by 77% of the population across all income levels, according to Zoop. Mobile transactions now account for 89% of payments, both online and in-store, consolidating Brazil’s mobile-first financial ecosystem. 🇧🇷
● V360 is launching a new platform integrated into B3 and CERC to automate the reconciliation, acceptance, and settlement of digital receivables. The system connects to major ERPs via API, offering full automation and compliance under new regulations — effectively acting as a “DDA for receivables.” 🇧🇷
General news:
● Meta will lay off about 600 employees from its AI division, citing excessive bureaucracy that slowed innovation, according to Axios. Shortly after the announcement, San Francisco-based Smallest AI invited affected staff to apply for roles paying between $200K and $600K. The startup, backed by an $8M round led by Sierra Ventures, develops enterprise-grade voice AI for sales, support, and billing — aiming to advance full-duplex systems with near-human clarity. 🇺🇸
● Belvo and Banco Azteca have surpassed 6 million verified income statements in Mexico, reshaping credit origination through open finance. By integrating alternative data models, the partnership expands fair and secure loan access for 23M digital clients — strengthening financial inclusion via data transparency. 🇲🇽
● Alphabet and Anthropic signed a deal worth tens of billions for Google to supply up to 1 million custom AI chips to Anthropic starting in 2026. The TPUs will add over 1 gigawatt of computing capacity, offering an Nvidia alternative and deepening Google’s role as a key AI infrastructure provider. Alphabet has already invested $3B in Anthropic, developer of the Claude AI models. 🇺🇸
● Urban mobility app Moovit launched a feature in São Paulo allowing users to recharge Bilhete Único transit cards directly through the app. Developed with digital mobility firm Primova, the update integrates ticketing, payments, and reloading in one platform, with Pix support and transaction history. The move reinforces Moovit’s position as a comprehensive urban mobility solution. 🇧🇷
● World Bank projects Brazil’s GDP to grow 2.2% in 2026, outpacing forecasts from the IMF (1.9%), Focus (1.8%), and OECD (1.7%). Growth will be driven by domestic consumption and employment stability, with unemployment near 5.6%. However, low investment (17% of GDP) remains a constraint on long-term expansion. 🇧🇷
● Andreessen Horowitz is reportedly raising a record $10B fund to double down on AI and mature tech investments, surpassing its $9B peak in 2022. Around $6B will target late-stage startups, with the remainder reserved for follow-ons. With $46B in assets and over 100 AI-related bets — including OpenAI, xAI, Databricks, and Mistral — a16z reinforces its role at the center of the global AI race. 🇺🇸
● Brazil’s Central Bank plans to release long-awaited Banking as a Service (BaaS) regulations by the end of 2025, along with new frameworks for crypto, payments, and capital adequacy. The initiative seeks to balance innovation and financial stability after recent cyberattacks on fintechs. The rules will define responsibilities between banks and partners to build a more transparent and secure digital ecosystem. 🇧🇷
Deals:
● Vivo Ventures invested $2.5M in insurtech 180 Seguros, extending its pre-Series B round that raised R$50M last month. The partnership will co-develop embedded insurance products for Vivo’s customer base, powered by 180’s AI-driven Model Context Protocol to enable instant, personalized offers. 🇧🇷
● Darwin raised R$102M in a round led by Vintage Investimentos, with participation from IRB, Eqwow, and Invisto. The insurtech leverages driving behavior data to price policies and reward safe drivers. With projected 2025 revenue of R$150M, Darwin plans to launch new life, home, and vehicle-backed loan products with Banco BV. 🇧🇷
● eMentor secured an undisclosed investment led by STAMINA Ventures to expand its corporate mentorship platform and become Brazil’s largest mentoring ecosystem. The funds will scale its team, enhance AI-driven features, and grow B2B operations. The platform already connects 40K mentees and 2.5K mentors across 1.5K companies. 🇧🇷
● Crusoe raised $1.4B led by Mubadala Capital and Valor Equity Partners, tripling its valuation to $10B. The company is building massive U.S. data centers — including a $12B, 1.2GW facility in Texas for OpenAI — as AI infrastructure spending surpasses $500B annually. 🇺🇸
● Jet, a Kazakhstan-based e-scooter startup, is finalizing a $10M private round and a $15M bond issuance to double its 20K-vehicle fleet in Brazil, now its largest global market. The company plans to expand to Rio, Curitiba, and Recife by year-end, and to Mexico, Argentina, and Colombia by 2026. 🇰🇿🇧🇷
● Oria Ventures is raising a R$300–400M secondary fund focused on acquiring stakes from other investors in growth-stage B2B SaaS startups. The fund will back 6–10 companies with checks between R$15M and R$50M each, targeting 3–5x returns. 🇧🇷
General news:
● Prosus, the Dutch holding that owns iFood, will begin trading on Brazil’s B3 next Monday (27) via BDRs backed by its Euronext-listed shares (ticker PRX). Valued at €130.3B, Prosus also controls OLX, Sympla, and Decolar, and holds stakes in Creditas and AI assistants Luzia and Zapia. iFood, its top performer, saw GMV rise 32%, orders up 29%, and revenue up 30% in Q2, reaching a record adjusted operating profit of $226M (up 178% YoY). CEO Fabricio Bloisi said Prosus is evolving into a “lifestyle e-commerce tech powerhouse.” 🇳🇱🇧🇷
● Casas Bahia and Mercado Libre signed a long-term partnership starting November 2025 to bring BHIA’s main categories—appliances, electronics, and furniture—to MELI’s platform ahead of Black Friday. The deal strengthens Mercado Libre’s position in underrepresented segments while expanding BHIA’s reach through MELI’s 40% share in Brazilian online retail. Logistics will initially run through BHIA, with possible future integration into MELI’s fulfillment network. 🇧🇷🇦🇷
● SoftBank sold 4 million shares of Banco Inter on Nasdaq for $38.2M at $9.55 each, reducing its stake from 14.6% to 13.6%. The sale—roughly 1% of Inter’s total capital—was described as “opportunistic,” not a strategic exit. Inter’s stock fell 5.7% following the filing, valuing the bank at $3.9B. CFO Santiago Stel said the move improves U.S. liquidity, which now accounts for 60% of trading volume, attracting larger institutional investors. 🇯🇵🇧🇷
● SumUp launched operations in Mexico, its 37th global market, targeting 4.5 million small businesses. The company introduced the SumUp Go, a 4G card reader with no monthly fees, aiming to drive financial inclusion in a market where 75% of transactions remain cash-based. With over a decade of Latin American experience, SumUp sees Mexico as a strategic pillar of its regional growth. 🇲🇽🇧🇷🇩🇪
● Intel shares jumped nearly 9% in pre-market trading after CEO Lip-Bu Tan’s aggressive cost-cutting and restructuring efforts helped the chipmaker beat earnings expectations. Backed by investments from Nvidia, SoftBank, and U.S. government initiatives, Intel’s stock has climbed more than 90% in 2025, marking a strong recovery after its first annual loss in decades. 🇺🇸
● dLocal and Alchemy Pay partnered to expand crypto-fiat payment solutions across Latin America, starting with instant bank transfers in Argentina. The collaboration leverages dLocal’s local infrastructure to power Alchemy Pay’s On & Off-Ramp, Web3 Digital Bank, and NFT Checkout products—bridging traditional finance and crypto for broader digital economy access. 🇺🇾🇸🇬
● ANBIMA launched a pilot DLT network to test blockchain-based issuance and trading of tokenized assets in Brazil. The initiative will simulate the full lifecycle of tokenized funds and debentures starting in 2026, aiming to unify standards and reduce market fragmentation. Developed in collaboration with the Central Bank and CVM, the project will inform future digital asset regulation. 🇧🇷
Deals:
● Mattilda acquired Mexican edtech Algebraix to create an integrated platform for schools. Mattilda provides tuition management and financing tools, while Algebraix offers attendance, grading, and parent communication systems. Together, they now serve over 1,000 schools, strengthening Mattilda’s reach across Latin America’s education market. 🇲🇽🇨🇱
● Chatbot Maker raised R$1.5M from KPTL via a BNDES-backed fund to scale its AI assistant Suri. The platform automates communication for SMBs, managing 1.5B messages for 3.5M users. The new funding will support expanded integrations (including Instagram) and growth from 200 to 1,500 clients. 🇧🇷
You will see below an updated list of events. If I forgot your event, and you want to include it - please sure to send those my way asap!
Money 20/20 USA 2025
Date: October 26–29, 2025
Location: Las Vegas, NV
Description: One of the world’s leading fintech and payments conferences, Money 20/20 gathers global leaders across banking, payments, tech, and startups to explore the future of money and financial services.
More infoBloomberg Línea Summit 2025
Date: October 27, 2025
Location: W Hotel, São Paulo, Brazil
Description: For the fourth consecutive year, Bloomberg Línea brings together CEOs, C-level executives, investors, economists, and analysts from leading national and global companies to discuss future economic trends. The summit offers high-level insights and a unique environment for strategic networking and debate on the years ahead.
IT Summit 2025
Date: November 6, 2025
Location: WTC Event Center, São Paulo, Brazil
Description: IT Summit 2025 is a premier event for technology and cybersecurity leaders, bringing together over 500 selected participants to discuss digital transformation, innovation, and strategic business opportunities. The conference offers exclusive content sessions tailored to executive interests, alongside continuous digital experiences and partner micro-events with groups such as CISOs Club, Tech Leaders, and CIOs do Agro—fostering year-round connections and high-level networking.
Web Summit Lisbon 2025
Date: November 10–13, 2025
Location: Lisbon, Portugal
Description: One of the world’s most influential tech conferences, Web Summit Lisbon connects 70,000+ attendees from startups, enterprises, and media to discuss trends shaping the tech industry.
More infoBrazil Tech Summit 2025
Date: December 9, 2025
Location: São Paulo, SP
Description: Part of the Global Startup Ecosystem Series, Brazil Tech Summit brings together entrepreneurs, government leaders, and investors to foster tech-driven innovation across Latin America.
More info
Founders - How Jensen Works - This episode covers the insanely valuable company-building principles of Jensen Huang—and nothing else.
“Smart people focus on the right things” - Jensen Huang