Business

Brazilian fintech EBANX acquires minority stake in Banco Topázio

The deal will allow EBANX to enhance international payment services to merchants selling in Brazil, as Banco Topázio is authorized to operate in foreign exchange

Headquarters of EBANX, Brazilian payments unicorn.
Headquarters of EBANX, Brazilian payments unicorn. Photo: EBANX/Courtesy
  • The 30% stake acquisition still awaits a green light from Cade and Brazil’s Central Bank;
  • With the approval, 70% of the bank’s common shares will remain under the control of its original shareholders and 30% will belong to EBANX;
  • The deal will allow EBANX to enhance its offer of international payment services to merchants selling in Brazil, as Banco Topázio is an institution authorized to operate in foreign exchange.

Global payments fintech EBANX has acquired a 30% stake in Banco Topázio, informed the company in a statement sent to LABS.

The deal still awaits a green light from two regulators: the Administrative Council for Economic Defense (Cade) and Brazil’s Central Bank.

With the approval, 70% of the bank’s common shares will remain under the control of its original shareholders and 30% will belong to EBANX. Until the effective approval of the operation by regulators, EBANX and Banco Topázio remain with independent operations, informed the fintech.

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The new acquisition will allow EBANX to enhance its offer of international payment services to merchants selling in Brazil, EBANX added, as Banco Topázio is an institution authorized to operate in foreign exchange.

From the southern Brazilian state of Rio Grande do Sul, Banco Topázio serves traditional and fintech clients and has been increasingly adopting a bank as a service model. In addition to the nine countries where it currently operates, EBANX recently announced an expansion to five new markets in Central and South Americas.

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