Quanto, a banking platform that offers access low-interest credit lines and other financial services in Brazil, announced a $15 million Series A funding round led by Bradesco and Itaú Unibanco, two of Brazil’s largest financial services institutions. Founded in 2016, Quanto says it is “breaking apart” the banking system to rebuild it to be more innovative, open, and competitive. Brazil’s Central Bank is open to the idea of opening up banking regulation to allow information and data sharing between payment processors, even with digital currencies. Currently, there are only a dozen Bitcoin ATMs in Brazil, compared to 5,749 in United States.

TechCrunch (Sept 22, 2020)