Mercado Pago, the FinTech unit of Mercado Libre, plans to apply for a banking license in Argentina to expand the service offering of its digital model in the country. A banking license from the Central Bank of Argentina will allow Mercado Pago to add more investment tools and new lines of credit, the company said. Mercado Pago has pursued this strategy in Brazil and Mexico. They are building the largest digital bank in Latin America.
SOURCE: PYMNTS