Nubank and Banco Inter are moving away from the local stock exchange, while other Brazilian fintechs skip the market altogether.
The Mexican operation represents Nubank's second-largest market and is seen as a strategic target in the company's internationalization plan.
Nubank has finally reached breakeven, sending bolstering signs that ripple across the regional fintech ecosystem.
To increase the engagement of the fintech's user community, the new product will expand Nubank's internal rewards program.
Nine months after its IPO with a dual listing on the São Paulo Stock Exchange and the NYSE, Nubank announced that it will no longer be a publicly traded company in Brazil.
Credit granted by fintechs in Brazil reached 55 billion reais in 2021, up tenfold in the 2016-2021 period, according to Serasa Experian.
Two years after its launch in Mexico, Nubank is making progress amid a highly concentrated banking industry.
Nubank is doubling its bets in crypto technology. The neobank announced plans to develop its virtual token to drive a loyalty program.
Argentina's fintech unicorn Ualá will invest $150 million over the next 18 months to boost its digital banking endeavors in the region.
Across Latin America, fintech lenders are accelerating profitability strategies amid growing pressure from markets to yield profits.