Mercado Libre Registers Mercado Banco Trademark, Plans To Launch Its Digital Bank by 2026 🇦🇷
We’re also covering Trump’s PayTech appointments 🇺🇸, an AI-run VC pumping shitcoins 🇬🇧, Trade Republic’s Christmas stock surprise 🇩🇪 & the AI InsurTech scandal that followed a NYC murder 🇺🇸
🇦🇷 Mercado Libre Registers Mercado Banco Trademark, Plans To Launch Its Digital Bank by 2026
Mercado Libre, often called the Amazon of Latin America, is taking a bold step toward launching its own bank under the name "Mercado Banco." The Argentinian company headquartered in Uruguay has registered the trademark and is pursuing banking licenses in Argentina, Mexico, and Brazil. While the bank could potentially offer a wide range of services, from cryptocurrency transactions to investment management, insiders suggest the launch might not happen until 2026. In Argentina, the regulatory process is notoriously long, but Mercado Libre’s close ties with President Javier Milei could speed things up. Unlike traditional banks, Mercado Banco aims to be fully digital and mobile-first, directly competing with players like Nubank in Brazil.
This move comes as Mercado Libre faces legal battles with traditional banks, accusing them of anti-competitive practices, while the banks fire back with similar claims. Despite the tensions, the company is betting on its innovative edge to disrupt the region's banking landscape. If successful, Mercado Banco could cement its position as a major financial player across Latin America, going head-to-head with fintech giants like Nu in Brazil, which currently dominates the digital banking space.
Source: InfoBae
🇺🇸 President Elect Trump Appointed Three New PayTech Executives at Key Positions in His Administration
President-elect Donald Trump has nominated three influential fintech executives to key government roles. Frank Bisignano, chairman of payment processor behemoth Fiserv, known for its POS system Clover and its 118 billion USD market capitalization, is set to lead the Social Security Administration. Jared Isaacman, the billionaire founder of payment processor Shift4 Payments, whose market cap is over 9 billion USD, has been chosen to head NASA… based on his experience as a space tourist aboard a SpaceX rocket that was the subject of a Netflix documentary. David Sacks, a fintech executive turned venture capitalist who built PayPal alongside Elon Musk and Peter Thiel, will serve as White House AI & Crypto Czar, tasked with shaping U.S. policy on emerging technologies. These new appointments come a few weeks after the appointment of PayPal co-founder Elon Musk as co-lead of the Department of Government Efficiency, whose mission will be to downsize the federal government. While it’s too early to say what that means for the payment industry, it’s safe to say that paytech companies’ concerns about regulations will be heard in Trump’s White House.
Source: Global Fintech Insider
🇬🇧 The First AI Agent-Run VC Is Live & It’s Pumping Shitcoins Like There Is No Tomorrow
In a one-line mention, Fortune reported that “Arok VC, an internet-based AI agent-run venture capital fund, raised $1 million in funding from Samuel Muir and others”. To be honest, I’m surprised Fortune even mentioned Arok VC, as this entity looks more like an experimental art project (with a good dose of traditional crypto scam) than an AI-powered investment firm. Furthermore, the fact that it’s soliciting investments probably makes it illegal in most jurisdictions and its creator, Léo Mercier, whose Linkedin profile states he is based in London, should definitely talk to a lawyer.
Despite all the red flags, I decided to include this “news” here, because this project is strangely similar to another fascinating AI agent investing story involving none other than venture capital royalty Marc Andreessen. Named truth_terminal, it struck it rich by promoting a shitcoin, after receiving a $50,000 grant from Andreessen Horowitz co-founder Marc Andreessen. Just like truth_terminal, Arok VC’s posts on X have a new-age religion undertone, and just like truth_terminal, Arok VC only cares about shitcoins. In a X post, Arok VC wrote “mapped 47,328 meme asset price charts against narrative propagation patterns. found something incredible:money isn't just becoming conscious it's learning to replicate”. While LLMs have already proven their efficiency in scams of all sorts, I believe it’s going to take a while before AI agents actually replace venture capitalists.
Source: Global Fintech Insider
🇩🇪 Trade Republic Wants To Put Stocks & ETFs Under European Christmas Trees
Trade Republic, a Berlin-based online brokerage, has introduced a new stock and ETF gifting feature just in time for the Christmas season. This feature allows users to gift stocks and ETFs to family and friends, supporting their long-term savings journeys. The gifts can be personalized and sent to both existing customers and new users, making it a unique alternative to traditional presents. Trade Republic co-founder Christian Hecker emphasized in the press release that this initiative aims to shift holiday gift-giving toward meaningful contributions to financial independence.
Source: Global Fintech Insider
🇺🇸 Public Secures $135M to Expand AI-Powered Investment Tools
Public, the investment platform co-founded by Jannick Malling and Leif Abraham, has raised $135 million in Series D-2 funding to expand its AI-driven investment tools. The company’s AI research tool, Alpha, now used by over 90% of its members, has been a major driver of its growth, alongside its expanded offerings of crypto, treasuries, corporate bonds, and fractional shares of fine art and collectibles. In a LinkedIn post, Jannick Malling shared, “Probably unbeknownst to most, while consumer fintech was ‘in a jam’ over the last couple of years, Public has grown pretty much every metric, every single quarter since the end of 2021.”
Source: Crunchbase News
🇬🇧 Zopa Raises $84M to Launch Chequing Accounts & an AI Financial Assistant
Zopa, the UK-based digital bank, has raised €80 million (84 million USD) to fund its expansion into new product categories like chequing accounts, investments, and a GenAI-powered financial assistant. This funding, led by A.P. Moller Holding, will also help Zopa reduce its reliance on lending, which currently accounts for most of its revenue. The bank, which became a regulated entity in 2020, plans to roll out its current account service to all 1.3 million customers by mid-2025, and is exploring acquisitions to broaden its product offerings. Zopa also aims to diversify its revenue streams and is focused on developing an AI-powered assistant offering personalized financial advice. CEO Jaidev Janardana hinted that Zopa might eventually go public, with a likely listing on a UK stock exchange.
Source: Sifted
🇨🇦 USDC Registers with Canadian Securities Regulators… Without Admitting It's a Security
Circle's USDC has become the first stablecoin to register with Canadian securities regulators, submitting an agreement to comply with their standards ahead of the December 31 deadline. This move comes as Canadian crypto-trading platforms may be required to delist non-compliant stablecoins starting in 2025. The registration is significant because Canadian regulators assert that stablecoins, typically pegged to the U.S. dollar, fall under their jurisdiction—something that has been controversial within Canada's crypto sector. Wealthsimple's Chief Legal Officer, Blair Wiley, criticized the move as an admission that USDC is a security, though Circle maintains it is not conceding this but will not challenge the regulators' authority.
Source: The Logic
🇨🇦 Canadian Payment Provider Nuvei Launches Stablecoin Payment Solution Across Latin America
Canadian fintech company Nuvei has launched a Stablecoins-focused payment solution for merchants across Latin America, leveraging partnerships with BitGo, Rain, and Visa. Nuvei CEO Philip Fayer highlighted that that allowing Latin American merchants to accepts stablecoins such as USDC will give them “global reach”. Rain CEO Farooq Malik described the partnership as a significant step in bridging traditional finance and blockchain, while BitGo Director Luis Ayala emphasized the importance of secure digital asset infrastructure for LATAM businesses. This launch builds on Nuvei’s regional expansion this year, which includes becoming the first global payments provider to offer direct local acquiring in Colombia, implementing local acquiring services in Mexico, and obtaining a payment institution license in Brazil.
Source: IBS Intelligence
🇺🇸 AI Insurance Scandal Erupts as UnitedHealthcare CEO’s Killing Sparks Public Backlash
UnitedHealthcare’s use of AI-driven claims assessment is under fierce scrutiny following the high-profile gunning-down of CEO Brian Thompson in New York City and the massive manhunt for his killer. Thompson’s murder, allegedly linked to public outrage over insurance practices, sparked a macabre wave of social media celebration, with many hailing the unidentified shooter as a folk hero. UnitedHealthcare rejected of one in three claims last year (double the industry average) using an algorithm that can process a claim within 1.2 seconds. Public frustration with insurers' tactics, epitomized by cases like automated denials and exorbitant out-of-network bills, has fueled an unsettling narrative framing the killing as a symbolic act of defiance against the healthcare system’s inequities.
Source: The Telegraph & The New York Times
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Who Am I?
Hi, my name is Julien Brault.
From 2017 to 2024, I was the CEO of Hardbacon, a fintech I co-founded, which reached 400,000 unique visitors at its peak.
A Google update decimated our traffic and I started this newsletter to keep myself busy in the aftermath.
I’m now product manager for Beeye, an AccountingTech SaaS.
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