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Brazil-Mexico Fintech Bromance Continues; Iran to Build Blockchain Network

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and Eastern Europe

  • FintechOS of Romania raises $1.23 million (€1.1 million) in post-seed funding.
  • Elvira Nabiullina, head of the Central Bank of Russia, talks about the state of Russian fintech.
  • Lithuania’s Evarest to launch a stock trading app in the second half of the year.

Middle East and Northern Africa

  • B.R. Shetty’s BRS Ventures Investment backs Dubai-based NewBridge Fintech Solutions.
  • A partnership between Alipay and Turkish payment platform ininal will help Chinese shoppers transact with Turkish merchants.
  • Iran to develop national blockchain network based on IBM Hyperledger Fabric.

Central and Southern Asia

  • Indian B2B payments firm PayMate announces plans to expand to the Middle East
  • Nepal Rastra Bank, the central bank of Nepal, bans Chinese digital wallet Alipay and WeChat Pay over foreign currency earnings concerns.
  • Myanmar’s Global Treasure Bank (GTB) implements Infosys Finacle’s core banking solution.

Latin America and the Caribbean

  • The fintech relationship between Mexico and Brazil grows stronger as Startup Mexico opens its first overseas campus in Sao Paulo.
  • The Association of Fintech Companies of Chile (FinteChile) reports on the “four pillars” of Chilean fintech: Talent, Capital, Regulation, and Demand.
  • The Financial Times looks at Brazil’s Nubank and its efforts to grow in the Mexican market.


  • Temenos partners with UBX to bring digital banking to underserved communities in the Philippines.
  • Singapore-based cross-border payments firm Instarem teams up with Thailand’s KBank.
  • Bank of Shanghai and OCBC deepen strategic partnership.
  • Boku integrates with digital payments solution Grab in order to expand payment options in Southeast Asia.

Sub-Saharan Africa

  • features Flutterwave, the company that designed the payments platform for newly-public African e-commerce startup Jumia.
  • Nigeria’s OPay Mobile Money solution reaches 20,000 agents.
  • Safaricom teams up with Vodacom to acquire intellectual property rights to M-Pesa’s mobile financial service platform.

Top image designed by Freepik