AGP Executive Report

Crypto & Regulation: Chilean crypto exchange Orionx is permanently shutting down after a forensic audit found a $7m+ custody shortfall; withdrawals are suspended while it prepares restitution, and the firm says it moved assets to wallets it didn’t control, after Tether backed its Series A and Chile’s regulator previously rejected its authorization. AI & Industrial Policy: China unveiled a plan to cultivate 10,000+ AI-focused SMEs by 2028, including incubators, “little giant” support, and low-cost computing for early-stage ventures. Oil Markets & Energy Risk: OPEC’s secretary general said stabilizing global oil markets is the priority and not about price manipulation, while Malaysia’s economic adviser warned oil prices may stay elevated for 2–3 years amid geopolitical shipping disruptions. Mobility & Fintech Safety: Yango Ride reported a 31% drop in grave traffic violations and sharp declines in post-trip contacts in Peru and Colombia after privacy and anti-fraud upgrades. Latin America Macro: UBS raised its Panama growth forecast to 5%+ for 2026, citing construction, tourism, and Canal-related activity alongside improved fiscal accounts. Geopolitics Watch: Argentina’s Milei escalated the Falklands/Malvinas oil-drilling fight with a bill to toughen sanctions, as public support signals the issue remains politically combustible.

Dollar Power & Emerging-Market Exposure: A new piece argues the US dollar’s reserve role leaves countries exposed to Federal Reserve decisions they can’t influence, reshaping reserve values and global pricing. Falklands Oil & Argentina Politics: Argentines back Javier Milei’s tougher stance on sanctions against firms drilling near the Falklands, with a bill and a proposed national security council in the spotlight. BRICS Payments Push: BRICS is reportedly discussing cross-border payment links, including digital payment systems and CBDC-related ideas, to reduce reliance on correspondent-banking chains. Venezuela Oil Deal Fallout: Coverage highlights the US taking a stake in Venezuela-linked oil arrangements and the broader geopolitical and investment implications. Caribbean/LatAm Tourism: Puerto Rico was named “International Guest Destination of Honor” for ANATO 2027, aiming to deepen Colombia ties and tourism deals. Security & Finance Risk: Spain seized 3.36 tonnes of cocaine off Gran Canaria in a high-speed chase, underscoring how trafficking routes keep shifting. Mobility & Payments: Uber’s planned Delivery Hero/Glovo acquisition could bring it back to Nigeria via delivery, pending regulators.

Venezuela Energy Deal: The U.S. is taking a 35% passive stake in Venezuela’s oil via a deal tied to Alejandro Betancourt’s North American Blue Energy Partners, with preferential purchase rights for production—another major step in Washington’s push to reshape the region’s energy map. Geopolitics & China: Analysts warn the deeper U.S. involvement could complicate China’s Venezuela strategy, especially around repayment of billions in Chinese policy-bank loans as new U.S.-backed projects ramp output. Oil Market Signals: Chinese refiners are paying record premiums for Russian ESPO crude as Middle East supply disruptions tighten and Iranian barrels slow, highlighting how quickly trade flows can flip. Crypto & Fintech: Félix raised $200M to expand stablecoin remittances and Cari secured $32.5M for a tokenized deposit network—bank-backed rails keep attracting capital. UN Cartography: The UN General Assembly backed a new world map using Equal Earth, passing 164–1 to better reflect Africa’s size, with the U.S. the lone no vote. Corporate Moves (LatAm-linked): Tata Motors launched its Iveco tender at €14.1/share, a reminder that cross-border industrial deals remain active alongside LatAm policy shifts.

Venezuela Oil & US Power Play: The US-Venezuela oil deal is drawing fresh backlash as analysts warn it could reshape energy flows while deepening geopolitical leverage—especially with China’s exposure to Venezuelan revenue in focus. Payments & Fintech: The ECB is exploring a link between its instant payments system and Brazil’s Pix, with a possible pilot in 2028—another step toward cross-border rails for LatAm. Capital Markets (Digital Assets): Banco do Brasil bought a Citi tokenized structured note via a digital-asset issuance channel, signaling growing comfort with tokenized instruments in LatAm’s mainstream banking. Corporate Risk & Governance: Brazil’s chief risk officers are gaining influence as regulation and ESG pressure push more firms to formalize risk management functions. Local Development: Belize City officials joined the IDB Mayors Forum in Barranquilla to discuss public services, trust, and resilient urban investment. Workforce Stress: A Puerto Rico workplace mental-health study ties weak emergency savings to higher vulnerability, with financial stress flagged as a key driver. Travel & Trade: Hilton named a new area president for the Caribbean and Latin America, underscoring continued investment in the region’s hospitality sector.

US-Venezuela Energy Deal: The latest US-Venezuela oil pact gives Washington direct operational access to Venezuela’s vast reserves, reshaping energy security and raising fresh questions on sovereignty and investor risk. Mexico Governance: Mexico moves to bar dual nationals from top government roles, including governorships and the presidency, tightening nationality rules for senior leadership. Fintech Banking: Revolut clears a key US hurdle with conditional OCC approval for a national bank charter, targeting a 2027 launch and expanding banking plus stablecoin access. Digital Finance in LatAm: Banco do Brasil makes a first-of-its-kind $5m digitally native structured note investment with Citi via Euroclear’s blockchain-based rails. EVs vs Fuel Demand (Brazil): Electrified vehicles are starting to dent gasoline and ethanol demand in Brazil, with Citi expecting the decline to accelerate over time. Energy Storage Expansion (LatAm): Norvento Enerxía plans to scale utility-scale storage across Brazil, Chile, Argentina, Mexico and Guatemala. Air Connectivity: Air Canada announces major 2027 route growth, including new services tied to Latin America and Europe. Tourism Economy (Mexico): Mexico ranks 4th globally for tourism GDP impact and leisure spending, spotlighting Cancún and the Riviera Maya. Critical Minerals Policy: A new focus on processing and supply-chain control is reshaping where investment flows for battery and rare-earth materials.

Venezuela Energy & Geopolitics: Eni signed a strategic operatorship deal with PDVSA for the Junín 5 heavy-oil field, while Chevron said it will double output to 600,000 bpd by 2031—another sign the U.S.-Venezuela oil reset is reshaping investment and regional leverage. Payments & Fintech: Bybit Pay integrated with Mesh, letting users spend or top up using exchange balances directly at checkout across Mesh-connected merchants and apps, cutting out extra transfers and conversions. Sovereign Debt Rules: A new commentary lays out how “Preferred Creditor Status” should work for IFIs and regional MDBs, aiming to clarify creditor hierarchy and comparability in restructurings. Metals Supply-Chain Pressure: The Copper Mark says buyers are demanding full traceability and responsible value chains beyond mine sites, turning transparency into a commercial requirement. Brazil Trade Shock: The EU’s suspension of Brazilian meat imports over antibiotic concerns took effect, putting exporters on alert as the bloc demands stronger guarantees. Regional AI Governance: Jamaica’s minister urged CARICOM to coordinate AI rules so the region can influence standards affecting public services and citizens. Brazil Critical Minerals: Brazil’s Senate approved a rare-earths framework to boost domestic processing and funding—an attempt to reduce dependence on China. Mobility Safety: Yango reported a 38% drop in reckless-driving incidents across Africa after updated speed-control and driving-style tools, with Cameroon events planned for September.

Venezuela Energy Deal: US Energy Secretary Chris Wright oversaw “tens of billions” in new Venezuela oil agreements with Chevron and Eni, as Caracas pushes output ramp-ups and the US moves to take partial control of reserves—raising fresh questions on contract transparency and regional oil market impact. Cybercrime & Payments: Brazil’s Breeze Comet gang reportedly infiltrated financial systems to trigger fraudulent transfers via payment infrastructure, a warning that the same playbook could spread beyond LatAm. Digital Dollar Expansion: Colombian fintech Plenti raised $3m seed led by Tether to expand its USDT-based digital dollar platform across Peru and Bolivia, betting on stablecoin liquidity growth. Remittances Upgrade: Miami startup Félix raised $200m to expand WhatsApp-based remittances settled in USDC, aiming to cut costs and speed up cross-border transfers for Latinos. Brazil Data Center Tax Incentives: Brazil’s Senate approved Redata, a special tax regime for data centers that ties benefits to renewable or low-emission power supply—aimed at pulling more digital infrastructure investment. Brazil Election Watch: Reuters reports Lula is running a unusually cautious campaign ahead of October voting, with tighter controls on state messaging to avoid misinformation and legal missteps. Healthcare in Brazil: Cellgenic expanded local commercial representation and physician support in Brazil to back product distribution in permitted channels. Fashion Deal Ends: Arezzo&Co and Soma will split after their merger plan unraveled, ending a two-and-a-half-year attempt to build a major LatAm fashion platform.

Venezuela Energy Deal: Venezuela’s interim president Delcy Rodríguez says a new binational oil accord targets 1.5 million b/d from 17 fields over 25 years, with claims of $100B+ investment and $209B+ in tax revenue—while Chevron moves to expand in the Orinoco Belt after the U.S. access announcement. Cross-Border Payments: Félix Pago raised $200M (a16z-led equity plus a General Catalyst credit facility) to scale WhatsApp-based remittances and add lending and savings for Latinos in the U.S. LNG & Commodities: U.S. LNG exports averaged 23% higher in 1H26, supported by new capacity and higher global prices after Hormuz disruptions. Banking/Fintech Risk: Brazil banks face AI-assisted malware activity tied to fraudulent transfers, underscoring rising cyber threats for financial institutions. Trade & Investment: El Salvador used the Japan–LAC Business Forum to push new B2B sales and investment talks, aiming to attract Asian capital via nearshoring. Corporate Governance: Altera added two board directors as it enters its next growth phase after separation from Intel. Regional Policy: CARICOM urged coordinated AI governance across the Caribbean to shape rules that fit local needs. Payments Tech (Crypto): USDT0 launched on Stellar, aiming to improve cross-border settlement for emerging-market users.

Venture & Fintech: Felix Pago raised $200m to expand beyond remittances into lending and savings for Latin American immigrants in the U.S., using a WhatsApp “Cognitive Financial Companion” model. Energy Finance: Odyssey Energy Solutions secured $74m (equity + debt) to scale distributed renewables across Africa, Asia and Latin America, linking thousands of installers/EPCs to project capital. Markets & Rates: Brazil stocks and the real gained as investors priced a tighter presidential race, pulling down long-end rates and the DI curve. Telecom & Infrastructure: Brazil launched an electronic temporary visa system (VITEM) for travelers from visa-exempt countries, moving more consular processing online. Corporate/Compliance: Honda is pushing suppliers for $9bn+ in cost cuts by 2030 as Chinese EV price pressure spreads globally. Geopolitics & Trade: Paraguay’s ambassador to Israel says beef exports to Israel jumped to $220m in 2025 and could reach ~$300m in 2026, with trade supported by sustained diplomatic outreach. Climate/Resilience: El Niño conditions are worsening hunger risk, with 60m people threatened across regions including parts of Latin America and the Caribbean.

US-Venezuela Energy Deal: The White House says the Pentagon’s investment arm will take a 35% stake in North American Blue Energy Partners, led by Alejandro Betancourt López, under a pact granting 100-year concessions tied to an estimated 65bn barrels—raising fresh questions on transparency and investor risk. Guyana Development Finance: Pas Cargo Guyana secured its first IDB Lab loan, with Finance Minister Ashni Singh overseeing the signing—another signal of growing private-sector financing in the country. Brazil Consumer Credit Watch: Mercado Pago told Reuters it’s comfortable expanding credit cards despite rising household debt concerns, citing stable underwriting and a “healthy” loan book. Fintech Funding & Tax Shift: Felix Pago closed a $200M Series C to scale stablecoin-based remittances and expand into lending and savings, benefiting from a new US federal excise tax that exempts digital transfers. Brazil Market Volatility: Argentina-focused coverage flags how Fed rate-hike odds and oil-price rebounds could lift global yields and pressure Milei’s borrowing costs. Sanctions Compliance: OFAC designated Ecuador-linked maritime networks and vessels tied to major cartels, warning Latin American firms to tighten screening and due diligence. Corporate Moves (LatAm): Vinci Compass completed its acquisition of Navi’s real estate platform, adding about R$800m in AUM, while Cemento Panam bought a Salvadoran plant to expand regional cement capacity.

Venezuela Oil Deal Backlash: Venezuela’s debate is heating up over U.S.-Venezuela oil agreements, with critics flagging missing details, constitutional process issues, and investor risk around how revenues will be used. Logistics Expansion: DHL Global Forwarding is buying Uruguay’s Aero Cargas to deepen its Latin America footprint and add a direct Uruguay operation, betting on more resilient routing amid geopolitical shipping shifts. Fintech & Stablecoins: Felix Pago raised $200M (a16z-led equity plus a credit facility) to scale WhatsApp-based remittances across Latin America using USDC rails. Payments Interop: The Philippines’ QR Ph is now accepting Alipay+ payments, aiming to boost cross-border spending for millions of merchants without changing merchant hardware. Air Travel & Cargo: IATA reported July passenger demand up 0.2% YoY and air cargo demand up 3.9% YoY, with growth easing but still broadly positive. Energy Storage & Renewables: Odyssey Energy Solutions secured $74M to expand distributed solar financing across Africa and Latin America, while SUNOTEC advanced a 100MW/441MWh battery project in Germany. Auto & Industrial Tech: BYD’s exports kept lifting results, with Brazil highlighted as a key overseas growth market. Corporate Restructuring: Brazil’s Natura announced CEO succession as it continues restructuring and an Advent deal reshapes ownership. Trade & Ports: ICTSI won approval to handle larger container ships at Mexico’s Manzanillo terminal, supporting higher-volume growth.

Venezuela Energy Shock: The U.S.-Venezuela oil deal is drawing heavy scrutiny as experts and lawyers question contract transparency and feasibility, with reports saying the U.S. would gain majority control of 65B barrels of proven reserves via a 25-year structure—yet production gains may take years and terms remain unclear. Investor Risk Watch: Analysts warn the arrangement won’t quickly fix supply, while opposition figures stress Venezuela’s role in energy security but also push for restored democracy and transparent elections. Trade & Geopolitics: U.S. Treasury chief Scott Bessent is urging G20 countries to rethink trade terms with China, arguing the export surplus is unsustainable and may require broader trade barriers. Latin America Finance & Tech: Brazil is stepping up online safety enforcement, including a lawsuit seeking damages from Discord, as regulators refine age-assurance rules. Corporate/Capital Markets: SmartFit plans to lean on TotalPass and TotalPass-like ecosystems as gym markets show signs of oversupply in parts of Brazil. Infrastructure & Logistics: ICTSI’s Manzanillo terminal in Mexico got approval to handle ultra-large container ships up to 15.5m draft, boosting capacity for global trade flows.

Venezuela Oil Deal Fallout: U.S. and Venezuela’s interim leadership struck a landmark pact giving Washington majority control of about 65 billion barrels of crude, but lawyers and energy experts are flagging legal, process, and transparency questions as political backlash grows inside Venezuela. G20 Trade Pressure: U.S. Treasury chief Scott Bessent urged G20 members to reassess trade terms with China to curb imbalances, drawing criticism that it could turn market issues into politics. Chile Mining M&A: Capstone Copper completed its acquisition of San Pietro copper assets in Chile’s Atacama, boosting its district-scale footprint and mineral inventory. Brazil Energy Storage Push: Jinko ESS teamed with UCB Power to assemble BESS in Brazil for upcoming local-content auctions, aiming to scale participation in the first capacity reserve tender. India–Brazil Pharma Talks: India called for more predictable Brazil regulatory pathways to expand market access for Indian pharma, while both sides moved to broaden India–Mercosur trade terms. Corporate Finance (LATAM-linked): CAP S.A. in Chile launched a cash tender offer and consent solicitation for its 7.375% notes due 2036, signaling active balance-sheet management. Hospitality Investment: Highgate set up a Greece vehicle but highlights its broader global push, including Latin America exposure.

Venezuela–US Oil Deal: Acting President Delcy Rodríguez pushed back on backlash over a 25-year pact that gives the US majority control of output tied to 65 billion barrels of proven reserves, while insisting Caracas retains ownership and sovereignty; unresolved terms still leave investors watching financing, private operators, and how the deal fits Venezuela’s legal framework. Colombia Fiscal Stress: Colombia’s 2026–27 budget points to a deeper deficit than expected, with analysts warning the government may need multilateral support, potentially including the IMF, as debt risks climb. China Trade Pressure at the G20: US Treasury Secretary Scott Bessent urged G20 finance ministers to revisit trade terms with China to shrink a record $1.2 trillion surplus, arguing China’s export model is driving global imbalances—Latin America is named as a key diversion outlet. Stablecoin Payments: Stablecoin-linked card spending topped $10.9B globally, with July hitting a record $1B+ month, signaling faster mainstreaming of crypto rails via Visa-style networks. Puerto Rico Fintech: A look at how Puerto Rico’s payments ecosystem blends US banking rails with local behavior (ATH Móvil), as fintech becomes part of the island’s post-debt-crisis transition. Venezuela Oil Market Spillover: Separate coverage frames the deal as potentially reshaping global oil markets and US pricing, but notes political and investment hurdles. Cuba–China Retail JV: SUMAI’s first China container arrives in Holguín as renovations advance on a new market aimed at dollar-accessible trade. Latin America Tech & AI: Reporting highlights growing Chinese tech presence across the region, raising digital sovereignty and cybersecurity concerns.

Stablecoin Payments: Cumulative stablecoin card spending has topped $10.9B worldwide, with July 2026 hitting a record $1B+ month as Visa expands stablecoin-linked card access. M&A in Metals: Boliden agreed to buy Votorantim’s 64.68% stake in Nexa Resources for about $1.31B, aiming to build a larger zinc-silver platform across Brazil and Peru. Venezuela Oil Deal: Trump says the US secured majority control of 65B barrels of Venezuelan proven reserves via 17 fields, but details remain thin and critics call it a sovereignty and pricing risk. Argentina Trade & Pharma: Argentina will ease barriers to help Indian pharma firms enter, including upgrading India’s status in its regulatory framework. Colombia Politics: Commentary frames Colombia’s election as a crossroads or a swing back toward the status quo, with policy direction still up for debate. Tech & Credit: A Philippines fintech uses AI to read messy loan documents and follow up for missing info, targeting lender backlogs and data gaps. E-commerce Watch: Multiple takes compare MercadoLibre’s Latin dominance with global rivals, keeping investor attention on payments-led growth.

Venezuela Oil Deal: Trump says the U.S. has secured “majority control” of Venezuela’s oil reserves tied to 65 billion barrels across 17 strategic fields, with private partners set to extract—sparking backlash over “colonial” optics and gas-price expectations. Mexico Energy Transition: Mexico’s green push is accelerating under Sheinbaum’s energy reform, aiming for 32+ GW of new capacity by 2030 with renewables at least 70% of the mix, backed by solar and wind project approvals. Argentina Electoral Reform: Argentina’s Chamber approved Central Bank reform while the Senate moved ahead on judicial appointments as Milei advances 2027 election changes, including “Ficha Limpia” and biometric endorsement rules. Water + Data Centers: A new focus on water scarcity is colliding with data-center expansion, with investors facing rising scrutiny over cooling water needs and disclosure demands. Renewables Financing (Central America/Caribbean): IRENA is inviting renewable project proposals for potential support via its Climate Investment Platform and Energy Transition Accelerator Financing. AI Labor Exposure (Argentina): A study flags Argentina—especially Buenos Aires—as highly exposed to GenAI’s job impact, driven by urban, service-sector employment.