Brazil: Fintech
Key Facts
—Nubank. The São Paulo-based digital bank serves 139 million customers across Brazil, Mexico, and Colombia (Q2 2026), including nearly 118 million in Brazil. It reported net income of US$2.9 billion for 2025 and a record US$1.1 billion in Q2 2026 alone, per its NYSE filings.
—Pix. Brazil’s instant-payment system processed 79.8 billion transactions in 2025, moving R$35.4 trillion (about US$6.8 trillion, at the August 31, 2026 rate of R$5.18 per dollar), and has run at roughly 6 billion transactions per month in early 2026, per the Central Bank (BCB). More than 170 million Brazilians — about 80% of the population — use Pix.
—Concentration. Brazil’s five largest banks (Itaú, Bradesco, Banco do Brasil, Caixa, Santander) still control roughly 80% of total banking assets, per BCB data. Fintechs have gained share in payments and consumer credit but not in commercial lending.
