LatinNews Daily - 29 June 2021

* US financial services firm, JPMorgan Chase, has bought a 40% stake in Brazilian digital bank, C6 Bank, giving it access to the Brazilian retail banking market, one of the largest in the world, for the first time. The financial terms of the transaction, which must still be subjected to regulatory approval, were not disclosed. “We’re excited to be partnering with one of Brazil’s fastest growing banks”, Sanoke Viswanathan, CEO of International Consumer for JPMorgan Chase, said in a statement. One of several new digital banks in Brazil, C6 Bank was founded in 2019 and now has over 7m users on its digital platform, with clients in every single one of the country’s 5,570 municipalities.

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