N26 receives license for Brazil

N26 can now also present its offering on the Brazilian market. The potential is huge.
News by Lisa Marie Münster Lisa Marie Münster · Stuttgart, 06. January 2021

N26 is now also allowed to present its offering on the Brazilian market. The potential is huge.

The online bank N26 apparently received a license from the Brazilian Central Bank at the end of December. Market entry was announced two years ago, but the bureaucratic process has delayed it until now.

In mid-December, founder and CEO Valentin Stalf was still cautious and said that N26 wanted to focus on its core European markets. The license came as a surprise, according to Finance Forward. And offers the local team more freedom. The Brazilian license is tailored to FinTechs, allowing them to operate without a partner bank in Brazil, which gives them much more flexibility and independence.

Since it was founded in 2013, N26 has attracted five million customers to date, and Brazil, with a population of over 200 million, could offer great potential for the Berlin start-up. The Brazilian website still only offers the option of registering for news.


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