The leading digital bank Revolut founded by former Lehman Brothers trader Nik Storonsky has set its sight on Brazil as its first entry into the Latin American market. With over 10 million crypto users in Brazil, Revolut aims to tap into the growing demand for crypto assets in the country.
To lead the rollout in Brazil, Revolut has recruited Glauber Mota, formerly of BTG Pactual. Mota notes that Brazilians spent over $12 billion abroad in 2022, more than double the previous year, and there is a clear desire for easy access to crypto assets.
Revolut’s app provides a high-quality user experience that has yet to be seen in the Brazilian market, Mota adds. Revolut’s mission is to create a borderless economy by offering accessible and user-friendly financial products.
Revolut CEO Nik Stronsky stated “We will start with the global account and crypto investments, but this is just the beginning. As Revolut makes its entrance into the Latin American market, it aims to provide a one-stop-shop for all the financial needs of Brazilians, from managing their money efficiently to investing in cryptocurrencies.
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