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Brazil’s Fintech Crunch
Brazil’s fintech sector faces a steep challenge in 2023, with major players like Open Co and Nexoos experiencing a 60% default rate on certain loans. This spike in defaults is stirring turmoil in the $13.2 billion FIDC market, driving the delinquency rate up to 9.5% from 3.5% in six years. The FIDC market refers to […]