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dLocal Licensed by Brazil’s Central Bank as Payments Institution
This license, roughly equivalent to the European e-money issuer license, allows dLocal to accept deposits from the public, manage e-wallets, and participate directly in Brazil’s payments systems including Pix. Additionally, dLocal becomes a “Payments Transactions Initiator”, enabling it to access Brazil’s new Open Banking Initiative as well as initiating third-party Pix payments.
At the same time, dLocal has also become an authorized eFX provider, allowing it to perform a wide range of cross-border currency operations, without amount restrictions.
Becoming a Payments Institution carries with it a higher level of scrutiny by Brazil’s Central Bank.
“We welcome this license, which is the product of an effort of many years. Being a Payments Institution will allow us a greater level of flexibility when serving our customers. We consider compliance and regulations a key competitive advantage, and we welcome the increased level of scrutiny that it brings, which will give our customers an even higher level of confidence in our internal processes, our compliance systems and the safeguarding of the funds”.
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