Markets · Finance

—The deal. PicPay, Brazil’s second-largest digital bank, raised about four hundred and thirty-four million dollars in a Nasdaq listing.

—The significance. It was the first major Brazilian fintech to list in New York since Nubank in 2021.

—The scale. The company has about sixty-six million registered customers and ranks among Brazil’s largest financial institutions.

—The Pix engine. It handles roughly one in nine of all transactions on Brazil’s instant-payment system.