In a statement, Mexican billionaire Ricardo Salinas Pliego said, his banking business may begin using bitcoin, becoming the country’s first bank to start accepting the digital currency. Salinas, who is ranked as Mexico’s third richest man with a family fortune estimated at $15.8 billion by Forbes, is the owner of the large Banco Azteca banking…
In a significant development, SoftBank-backed used-car platform Kavak has become Mexico’s first ever tech “unicorn”. The startup was valued at $1.15 billion in its latest funding round last month, said its CEO Carlos Garcia. Since its founding in 2016, Mexico City-based Kavak has raised more than $400 million in total funding with SoftBank, Greenoaks Capital…
This is SoftBank’s second investment in Mexico after it invested $20 million in Clip, a payments firm. In a development that sees an expansion in SoftBank’s growing portfolio in Latin America, the Japanese conglomerate said, it will be investing in Kavak, a Mexican used car platform. “We are proud to join with and invest in…
The strategic acquisition has multiple sweet spots: not only it places Wal-Mart on a better footing in its competition with its peer – Amazon.com Inc, it will also provide Wal-Mart crucial learning experience which it can use in other markets. In a move that will enable Walmart Inc to increase its footprint in Chile and…
Although Mexico does not use SWIFT, which was earlier compromised by hackers, the cyber punks were able to exploit vulnerabilities in its SPEI system and transfer funds to fake accounts which were emptied by their accomplices. According to two sources close to the investigation at hand, hackers have managed to siphon off hundreds of millions…
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