dLocal, Latin Americas answer to Stripe, wins UK license in global expansion push
Summary
It specializes in cross-border payments for emerging markets such as Brazil, Mexico, Colombia and its home country, Uruguay. LONDON — Uruguayan payments firm dLocal has secured a U.K. payment institution license, adding to the companys growing portfolio of regulatory authorizations as it furthers global expansion. The emerging markets-focused fintech told CNBC it had acquired an authorized payment institution license from the Financial Conduct Authority, which is Britains financial services regulator. The subsidiary, which trades in the U.K. as AstroPay, was previously unable to onboard clients locally because of restrictions placed on it by the FCA. Pedro Arnt, dLocals CEO, told CNBC he expects the business to stand out from domestic payment tech rivals, such as Worldpay and Checkout.com, given its focus on emerging markets in places like Latin America, Africa and Asia.