AGP Executive Report

Fintech & Banking: Augustus, a German payments startup building a de novo U.S. bank, raised $180M at a $1B valuation to give international clients direct access to U.S. dollar clearing rails, aiming to cut reliance on intermediary banks. Digital Identity: Jumio reported strong Q2 2026 growth as it pushes “identity intelligence” beyond static onboarding, including broader global digital ID acceptance via single integration. Venture Capital: CARPL.ai (radiology AI) closed a $10M Series A led by the IFC; Wiffy raised $3M Series A led by Earth Fund; several other early-stage startups also secured funding. E-commerce & Healthcare: MercadoLibre discussed a Chile plan to operate an in-house, online-only pharmacy, which would require regulatory changes after meetings with health authorities. Corporate Earnings: TelevisaUnivision posted a Q2 loss despite higher revenue tied to Mexico World Cup rights; American Airlines logged record quarterly revenue. Crypto & Payments: KuCoin said Latin America user growth jumped 170% in H1; MEXC won LATAM awards in Lima; Qubic integrated with Alchemy Pay to let users buy QUBIC in 173 countries. Energy & Markets: Dynacor approved an August monthly dividend; Tesla’s energy gross margin fell as warranty true-ups and lower industrial storage pricing weighed on results.

Digital Banking & M&A: Nubank agreed to buy Banco Porto Real in Brazil, adding a banking license as it keeps consolidating its financial footprint. Stablecoins & Payments: Marqeta teamed with zerohash to let card programs support stablecoin spending across global merchant networks. Argentina Credit Support: CAF approved a USD 250m sovereign risk guarantee for Argentina, aiming to widen fiscal room and pull in private investment. Brazil Policy & Trade Pressure: The US imposed a 25% tariff on certain Brazilian goods, with Brazil pushing back on the rationale tied to big-tech regulation and legal disputes. Chile Tax Overhaul: Chile’s Congress advanced most of President José Antonio Kast’s economic and tax reforms, including a gradual corporate tax cut to 23%. Venezuela Oil Transparency Fight: Lawmakers accused the Trump administration of “oil, power and graft,” citing a large gap between US-collected Venezuelan oil proceeds and transfers back to the country. Argentina Credit Stress: Bad loans are rising in Argentina, with delinquencies hitting a two-decade high and threatening the recovery engine. Caribbean Airlift: Sunrise Airways launched a new twice-weekly Antigua–Barbados route, boosting regional connectivity during the festival season. Identity & Fraud Tech: Jumio expanded beyond biometric onboarding with more identity intelligence and new leadership as it reports customer momentum. Latin America Tech Governance: Nubank founder David Velez joined the OpenAI Foundation board as OpenAI prepares for an IPO.

Air Connectivity & Deals: Abra Group and Etihad Airways signed a preliminary partnership to build a “bridge” between Latin America and the Middle East, with Avianca and GOL cooperation, loyalty links and codeshares planned for 2026, plus a potential Airbus A330-900 dry lease starting November 2026. Fintech & Payments: LemFi partnered with BVNK to move cross-border settlement onto regulated stablecoin rails, aiming to cut remittance delays and costs for users sending money to Africa, Asia and Latin America. Banking Infrastructure Funding: Augustus raised $180M at a $1B valuation to expand programmable “global dollar” clearing, targeting faster settlement and broader access for banks and fintechs across Latin America and beyond. Energy & Fertilizer Investment: Maire’s Tecnimont won a €1.3B contract for Argentina’s large-scale fertiliser complex (ammonia plus urea trains), while AEC urged international investors to expand in Venezuela’s oil and gas as reforms reopen the sector. Corporate Moves: Interblock appointed Kay Oswald as CEO as part of leadership succession. Demographics & Risk: Colombia’s aging accelerates—by 2036 older adults will outnumber children, raising long-term pressure on pensions and healthcare. Food Inflation Watch: UN warns war-driven energy and fertiliser shocks could keep pushing food inflation higher and worsen hunger.

Aviation Watch: EU regulators say they’ve finished key in-flight testing for China’s C919, a potential long-term threat to Boeing and Airbus as the jet heads toward European certification. Payments & Banking: Nubank is buying Banco Porto Real to add a banking license in Brazil, while Augustus raised $180m (Tiger Global-led) to build 24/7 dollar-payment infrastructure for markets including Latin America. Fintech Funding: Venezuela’s Cashea secured $100m to expand installment credit after the earthquake, and Cordant emerged from stealth with an $8m seed round for a real-time command center for payments and bank operations. Air Connectivity: Etihad and Abra Group signed a partnership to boost Latin America–Middle East–Asia connectivity, including loyalty and codeshare plans. Corporate Finance: Chubb reported solid Q2 earnings despite softer property conditions; Weatherford posted Q2 results and announced an acquisition of NCS Multistage. Energy & Infrastructure: Colombia launched its first geothermal exploration project, and Mexico’s USMCA review kicks off with talks covering labor, autos, steel, and electronic payments. Food Security: UN warns hunger gains are fragile, with Iran-war fallout potentially pushing nearly 19m more into chronic hunger by 2030.

Payments & Trade Tensions: Brazil’s Pix is back in the spotlight as the U.S. flags the system in its tariff justification, arguing government-run payments could disadvantage U.S. digital-payment firms. Fintech Funding: Ant International (Ant Group’s overseas payments arm) closed a ~$1.2bn Series A to scale merchant payments, account management and services across Asia, Europe, the Middle East and Latin America, reaching 150m merchants and 2bn user accounts. Energy for Data Centers: Terra Innovatum signed an LOI with Waiken ILW for up to 8MWe of behind-the-meter SOLO microreactors to power DIRECTV Latin America and Sky Brasil data-center sites in Brazil. Amazon Conservation Finance: Inditex will invest ~€6.5m (2026-2028) with Conservation International to expand and manage protected areas across the Amazon in six countries. Capital Markets / PE: Clipway closed Secondary Fund I at $6.4bn, positioning it as a major tech-enabled secondaries platform with LPs across regions. Corporate Moves: America Móvil agreed to buy Peru’s Wow Tel broadband provider from Liberty Latin America, pending regulators. Health & Public Policy: UN reports show hunger easing for a third year, but healthy diets remain unaffordable for about 1 in 3 people globally.

Brazil Betting Tax Take: Brazil collected nearly R$10bn in federal tax from licensed online betting operators in 2025, with the regulated “Bets” market now feeding a tighter fiscal story for Mercosur governments as rates step up to 13% in 2026 and 15% from 2028. Public Finance & Risk: Brazil’s biggest banking fraud case at Bank Master is still unfolding, with authorities dismantling Sefer Investments and detailing a Ponzi-like scheme tied to CDB sales. Digital Payments & Identity: Hopae added real-time verification for Brazil’s digital driver’s license (CNH) using QR decoding plus facial matching, while India and Spain push ahead on UPI–Bizum interoperability talks. Banking Leadership: MUFG named Valeria Strappa head of Global Transaction Banking for the Americas, aiming at digital modernization and commercial growth across the region. Crypto Treasury Play: OranjeBTC repurchased 3.9m shares to lift “bitcoin per share,” buying back stock while it trades below modified net asset value. Energy & Infrastructure: Terra Innovatum signed an LOI for SOLO micro-modular nuclear reactors to power DIRECTV Latin America and SKY Brasil data centers in Brazil. Humanitarian & Social Impact: UNICEF/PAHO report over 53,000 child and adolescent murders in Latin America and the Caribbean since 2015–2022, underscoring the region’s social risk backdrop.

Paraguay Credit Boost: Moody’s reaffirmed Paraguay’s Baa3 investment-grade rating with a stable outlook, backing the country’s monetary policy credibility and price stability. Stablecoin Momentum: OSL said its USDGO compliant stablecoin has topped $1 billion in circulating supply, positioning it for larger, institutional-grade payments in emerging markets. Argentina Fertilizer Push: KBR’s Purifier tech was selected for Pampa Energía’s new ammonia-urea complex in Bahía Blanca, aiming for operations by end-2029 and a major Latin America scale-up. Dealmaking in Wealth Tech: Temenos completed its acquisition of Swiss wealth fintech additive to expand its wealth franchise ambitions across regions including Latin America. Cyber Risk Warning: A Cyprus expert warned fintech and iGaming firms expanding abroad—especially into Latin America—are underestimating targeted cyber threats. Payments Interop Talks: India and Spain agreed to advance technical discussions to connect UPI with Spain’s Bizum, with broader collaboration including joint investments in Latin America. Crypto Regulation Watch: Reports renewed scrutiny on whether Tether’s USDT can stay on U.S. platforms under the GENIUS Act timeline. Latin America Defense Expansion: LIG Defense & Aerospace opened a Peru regional office to support growing defense demand across the region. Trade Tensions: The U.S. unveiled a fresh 25% tariff on most Brazilian exports, with Brazil warning of reciprocal retaliation.

EV Manufacturing in Brazil: BYD hit its 100,000th new-energy vehicle milestone at its Bahia plant and pushed staffing above 5,500, with capacity plans scaling to 600,000 units and a goal to source 50% of components locally by early 2027. Advanced Air Mobility in the Caribbean: Eve Air Mobility and Moov signed an LOI for up to 30 eVTOLs to study tourism, airport connectivity and regional mobility across Cabo Verde. Energy Markets: A new review says the U.S. powered about 93% of global LNG export growth in 2025, lifting exports to 5.2 trillion cubic feet. Aviation Demand Signals: IATA’s 2025 stats show premium travel rising, with Latin America posting the biggest jump in premium passengers. Digital Finance in Cuba: Cuba’s payment system reform removes the 5,000 CUP cash cap and reshapes cash/digital incentives starting July 20. Regional Tech & Payments: India and Spain agreed to fast-track UPI-Bizum interoperability talks, alongside investment and joint projects in Latin America. Corporate Strategy (Telecom/Energy): Reliance outlined a three-pronged growth plan across Jio, O2C and new energy, highlighting faster digital services growth and ongoing clean-energy execution. Crypto & Fintech: Bitso, Coinbase and Circle were recognized in CrispyBull Awards 2026 for LATAM crypto exchange, customer service and digital finance innovation.

Aviation Demand Outlook: Boeing says airlines and cargo operators will need nearly 44,000 new aircraft over the next 20 years, with the global fleet topping 50,000 by 2045 as passenger traffic doubles and fleet renewal drives about half the deliveries. Latin America Connectivity: Avianca adds daily Fort Lauderdale routes from Barranquilla and Cali, boosting South Florida seat capacity by more than 5,000 per week. Cyber Risk in Energy: Colombia’s Ecopetrol reports a cyberattack tied to about 3,300 user accounts, with extortion demands and a warning that the incident could have material financial impact. Offshore Energy Expansion: Gulf Marine Services secures a four-year offshore Brazil charter for a self-elevating accommodation unit, scheduled for delivery in Rio between Aug-Nov 2026. Fintech/Payments Reform: Cuba moves to overhaul its payment system by removing the 5,000 CUP cash cap and reshaping cash-to-digital incentives to ease shortages and protect pensions. AI Geopolitics: China pushes a new global AI governance push, including training and cooperation plans aimed at the Global South, as AI becomes a battleground for standards and influence.

Aviation Outlook: Embraer says demand for 8,500 new sub-150-seat jets could reach about $650bn by 2045, with passenger traffic growth averaging 3.7% and China leading at 5.2%. Cybersecurity & Energy: Colombia’s Ecopetrol reports a cyberattack that exposed data tied to ~3,300 user accounts across 15 subsidiaries, with extortion demands and a warning it could have a material financial impact. Aviation Outlook: Boeing keeps its 20-year forecast steady, projecting 43,625 new aircraft deliveries from 2026-2045 despite slower near-term passenger growth. Air Connectivity: Avianca launches daily Fort Lauderdale routes from Barranquilla and Cali, adding 5,000+ weekly seats between Colombia and South Florida. Caribbean Energy Sector: The Dominican Republic will host the First Caribbean Service Station Summit in November to tackle investment, regulation and tech trends for fuel retailers. Local Housing Policy: Jamaica Plain approves two new ADUs, signaling easing momentum but still requiring zoning variances. AI & Global Governance: China’s Xi unveils a plan for 5,000 AI training opportunities for developing countries and pushes a broader, shared AI governance framework.

Cyber & Energy Risk: Colombia’s state oil giant Ecopetrol says a cyberattack stole data tied to about 3,300 accounts across 15 subsidiaries, while warning the breach could still have a “materially adverse” impact. Political Volatility: Colombia’s electoral setback is feeding a new phase of struggle as the left challenges the legitimacy of the incoming government and calls for mass demonstrations. AI Governance Push: Xi Jinping used the 2026 World AI Conference to argue AI must be a “symphony of global collaboration,” and pledged 5,000 AI research opportunities for developing countries, including Latin America. Aviation Demand Outlook: Boeing kept its 20-year forecast for 43,625 new commercial aircraft deliveries, even as passenger growth slows, reinforcing long-term fleet investment themes for the region. Food & Supply Chain Shock: El Niño preparations are ramping up as extreme heat, droughts and floods threaten food security across Latin America, with UN and humanitarian agencies urging early action. Payments/Fintech Angle: Brazil’s PIX-style rails and stablecoin access keep resurfacing as policymakers and firms position for faster cross-border transfers and new digital money rails. Corporate Deal Watch: Uber’s $14.8B plan to buy Delivery Hero signals more consolidation in delivery markets with potential knock-on effects for logistics and consumer spending.

Stablecoins & Payments: Tether is doubling down on Latin America, investing US$20M in Argentine neobank Ualá as part of a $197M round that values the fintech at $3.2B, while also pushing stablecoin access toward local banking rails. Fintech Expansion: Ualá says the funding will accelerate growth across Argentina, Mexico and Colombia, where it already has 11M+ users. AI Governance: Xi Jinping used the 2026 World AI Conference in Shanghai to argue for “open” global AI governance and collaboration, with a new WAICO framework drawing attention from policymakers worldwide. LatAm Trade & Security: Canada’s foreign minister met Mexico’s counterpart as CUSMA review deadlines pass, with Mexico signaling it wants a trilateral architecture intact. Venezuela Disaster & Risk: Venezuela’s earthquake death toll nears 5,000 as officials warn El Niño could worsen displacement and food/water stress. Food Safety Watch: Mexico issued a travel advisory over a growing U.S. cyclosporiasis outbreak, flagging risks for travelers heading north. Auto Demand Signal: BYD’s exports show Latin America as a key growth engine, with Brazil leading first-five-month 2026 shipments. Energy Outlook: A Foreign Policy brief highlights Latin America’s oil-export resilience amid Strait of Hormuz disruption and tariff headwinds.

US-Brazil Trade Clash: The U.S. unveiled a 25% tariff on certain Brazilian imports, with some exemptions, escalating a trade fight that Brazil says is unjustifiable and will be met with reciprocal measures. Mexico Investment Watch: BlackRock warned that uncertainty around USMCA renewal could cloud long-term investment plans in Mexico, even as it sees fundamentals as broadly stable. Fintech & Payments in LatAm: Tether backed Argentine neobank Ualá with a reported $20M investment, while stablecoin rails are also being pushed into local payment systems across the region. Corporate Deals: Uber’s $14.8B bid to buy Delivery Hero would create a major global food-delivery platform, with implications for consumer tech and logistics. Energy & Industry: Toyota is investing R10.4bn in South Africa to build the new Hilux, and TCL Electronics jumped on plans to buy its parent’s air-con business—both signals of continued manufacturing bets amid policy and cost pressures. AI Governance: Xi Jinping urged AI development as a “symphony” of global cooperation, with plans for thousands of research projects and training for developing countries, including Latin America.

M&A Watch: Uber agreed to buy Delivery Hero in a €12.7B ($14.8B) deal, creating a global food-delivery giant spanning 99 countries; Uber will sell overlapping operations in 14 markets to ease competition concerns. Trade & Tariffs: Brazil hit back at new U.S. 25% tariffs on Brazilian imports set to start July 22, calling them unjustified and politically timed ahead of Brazil’s election; Washington says the move targets unfair practices. Fintech/Stablecoins: Tether invested $20M in Argentine neobank Ualá as part of a $197M round valuing it at $3.2B, underscoring stablecoin-linked capital flows into LatAm banking. Banking/Payments: Wise reported Q1 FY27 results with cross-border volume up 26% to $69.3B and active customers up 21% to 11.9M, as instant transfers rose to 77%. Aviation: Dominican Republic logged a May record 1.6M passengers (+9.2% y/y), with U.S. traffic driving growth. Energy: Eni’s CEO said investment is shifting toward Southeast Asia and Latin America as Middle East geopolitics keeps supply risk elevated. Identity & Fraud Tech: Fourthline and Veridas plan to merge into a bank-grade identity verification platform covering Europe, the U.S., and Latin America. Geopolitics: U.S. designated two Mexican cartels (Juárez cartel and Los Viagras) as foreign terrorist organizations, expanding the crackdown.

Uber-Delivery Hero Deal: Uber has launched a public takeover offer for Germany’s Delivery Hero, valuing it at about $14.8bn (€41.50 per share) and creating a food-delivery group spanning 99 markets, including Latin America’s PedidosYa; to ease antitrust concerns, Delivery Hero will sell overlapping businesses in 14 markets to SSW Partners for roughly $1.6bn. Latin America Fintech Capital: Tether invested $20m in Argentina’s neobank Ualá as part of a $197m funding round, signaling continued stablecoin-linked interest in regulated Latin American banking rails even as USDT integration faces near-term regulatory limits. Brazil-US Tariff Clash: Brazil condemned new US-imposed 25% tariffs on certain Brazilian products, set to start July 22, while the US says exemptions will apply to items like beef, coffee and some aircraft parts. Brazilian E-commerce Shift: VIVAMOMENTO launched “VIVA FLASH” in Brazil, pushing interactive, points-based shopping to tackle rising acquisition costs and weak loyalty. Aviation Demand Pulse: IATA’s latest World Air Transport Statistics show international premium travel up 4.5% in 2025, with Latin America’s premium passenger numbers rising 22.1% to 4m. Trade Diplomacy: A Latin America trade ministerial panel in Auckland kicked off a week of talks with ministers from Chile, Uruguay, Panama and Costa Rica.

Mexico–US Security Clash: Claudia Sheinbaum rejected DEA chief Terry Cole’s claim that Mexico’s government is tied to cartels, calling it political and urging the US to focus on its own illicit-drug problem. Stablecoin Payments in LatAm: Exodus partnered with DGO and SKY+ (Waiken ILW) to let subscribers in Argentina, Mexico, Colombia and Uruguay pay with US-dollar stablecoins via the Exodus Card, with 25% cashback for new users. Crypto Infrastructure: XDC Tech integrated Bridge’s stablecoin on/off-ramps and multi-currency custody to enable near-real-time stablecoin settlement for payments and trade finance, including across Latin America. Airline Network & Payments: JetBlue is cutting four routes and closing two cities as it expands Fort Lauderdale, while also rolling out ClarityPay financing with 0% APR offers for eligible customers. Colombia–US Talks: Colombia’s incoming vice president Jose Manuel Restrepo met US Secretary of State Marco Rubio to set a bilateral agenda on trade, investment and regional issues. Caribbean Diplomacy: CARICOM backed Guyana’s Ambassador Carolyn Rodrigues-Birkett for UN Secretary-General, signaling support for a rules-based order amid climate and geopolitical strain. Public Health Risk: A measles case tied to a missed MMR dose highlights how vaccine misinformation and gaps can quickly turn travel into outbreaks. Energy Markets: US LNG exports to Latin America hit a 37-month high in June, but analysts expect the surge to fade as regional supply and demand normalize. Retail Expansion Watch: Chipotle opened its first Mexico restaurant in Nuevo León via Alsea, testing fast-casual demand in a market where US chains have struggled before.