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TikTok Reportedly Applies for Lending and Payment Financial Licenses in Brazil
According to a report by Reuters, TikTok, the short video platform under ByteDance, has applied to the Central Bank of Brazil for permission to operate as a fintech company for len...
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According to a report by Reuters, TikTok, the short video platform under ByteDance, has applied to the Central Bank of Brazil for permission to operate as a fintech company for lending and payments.

The report states that TikTok has applied for two licenses from local regulators. One license would allow it to act as an 'electronic money issuer,' providing prepaid accounts for users to store or receive funds and make payments within its app. The second license would enable it to become a 'direct credit company,' allowing it to lend its own funds or serve as a platform connecting borrowers and lenders.

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The report indicates that if the applications are approved, TikTok will be able to offer basic financial services to the Brazilian public, with an operational model similar to Nubank, the country's largest digital bank. (fc/j)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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