With Green Light From Regulators, TransferWise Accelerates In Brazil
Money transfer unicorn TransferWise is accelerating its business in Brazil after receiving the authorization from the Central Bank to operate a foreign exchange broker. Present in the country since 2016, the fintech had been waiting for the green light from the local regulators for two years.
According to the fintech, which had been operating as a foreign exchange correspondent in partnership with local banks, it has handled over BRL 26 billion in money transfers since it started operating in Brazil.
By Angelica Mari via Forbes