Key Takeaways STNE's client deposits reached R$9 billion in Q3 2025, up 32% year over year, as Pix adoption accelerated.STNE saw Pix transaction volume jump 64% year over year, outpacing cards and driving stronger deposit inflows.STNE shifted 84% of retail deposits to time deposits via cash sweep, targeting 75-125 bps annual net benefit.In the first nine months of 2025, StoneCo Ltd.’s ((STNE) deposit growth was fueled by rising Pix (Brazilian instant payment ecosystem) usage, strategic bundling and its cash ...

（原标题：黑五当天巴西Pix交易数量达29.74亿笔，创下单日交易量纪录） 巴西《Poder360》12月1日报道，巴西中央银行本周一宣布，Pix交易量在本月最后一个工作日，也 即11月28日（周五）交易数量达29.74亿笔，创下历史新高。上周五不仅是"黑色星期五"购物节，同时 也是各公司发放年末第13月工资的日期。Pix目前已占据巴西各类支付交易的半数以上，今年第二季 度，其交易数量达193亿笔，比上一季度增长10.5%，这一涨幅远高于其他支付方式，如信用卡增长 4%，借记卡增长1.5%，预付卡增长3.9%。 ...

Core Insights - Paysafe has expanded its partnership with Boosteroid, enhancing payment options for Brazilian gamers [1] - Brazilian gamers can now use Pix and Boleto Bancário to pay for Boosteroid subscriptions [1] - PaysafeCard eCash solution is already available for Boosteroid in Europe [1]

Core Insights - The 2025 Global Web Summit opened in Lisbon, Portugal, discussing cutting-edge technologies like AI and robotics, with over 70,000 attendees expected, including 2,500 startups and 1,000 investors [1][3] - The founder of the summit, Paddy Cosgrave, highlighted a shift in the innovation center from the West to Asia, with Chinese companies leading in AI and humanoid robotics, marking a decline in Western dominance in technology [1][3] - Cosgrave noted that ten years ago, China was seen as a follower in technology, but now it is a driving force in global tech innovation, showcasing excellent open-source AI models available for free [1][3] Industry Trends - The tech industry is entering a "multipolar" era, with emerging countries like Poland, Brazil, India, and Vietnam producing a new generation of startups [3] - Brazil's central bank has launched the digital payment service Pix, indicating that Global South countries are taking over areas previously dominated by the West [3] - The number of German startups attending the summit has decreased for the first time, while Polish startups have reached a record high, positioning Poland as a model of ambition in New Europe [3] European Perspective - Despite the decline of Western tech dominance, Cosgrave remains optimistic about technological development in Europe, citing many surprising startups still emerging [3] - He recalled that the UK fintech giant Revolut was once a small startup at the summit ten years ago, illustrating the potential for growth in European tech [3] Innovation Rankings - According to the 2024 Global Innovation Index report by the World Intellectual Property Organization, China has risen to 11th place in global innovation rankings, marking it as one of the fastest-growing economies in innovation over the past decade [4] - China now boasts 26 of the world's top 100 technology innovation clusters, surpassing the previous year's 24, ranking first globally [4]

Core Insights - The article discusses the current state and future potential of stablecoins in the global payment landscape, highlighting the challenges and opportunities for adoption in various markets. Group 1: Current Market Dynamics - EBANX, a payments facilitator, reports that 100% of its customers are currently using fiat money, indicating that mainstream users are not yet adopting stablecoins [1] - Stablecoins like Tether's USDT and Circle's USDC are gaining traction as they serve as digital representations of fiat currencies, but they still account for less than 1% of global daily money transfer volume according to McKinsey & Co [4][10] - The market value of stablecoins is projected to grow from $315 billion to $1.6 trillion by 2030, contingent on increased adoption by shoppers [10] Group 2: Regulatory Environment - The Monetary Authority of Singapore has indicated that XSGD and XUSD are compliant with upcoming stablecoin regulations, positioning StraitsX as a major player in the Asian financial market [6][11] - Regulatory clarity is essential for the expansion of stablecoin applications, particularly in the US where there is a need to balance the interests of crypto exchanges and traditional banks [8][11] - The potential for confusion arises if issuers are required to create separate coins for different jurisdictions, which could diminish customer protection and complicate transactions [9][11] Group 3: Technological Advancements - Smart contracts are expected to play a significant role in the future of stablecoins by automating transactions and reducing costs associated with compliance checks [5][11] - The integration of stablecoins into e-commerce is seen as a promising application, with companies like EBANX enabling merchants to accept stablecoins alongside traditional currencies [10] - The article draws a parallel between the current adoption of stablecoins and the early days of email, suggesting that as technology improves, stablecoins will become more widely accepted [11]

Financial Data and Key Metrics Changes - The company achieved a net profit of BRL 4 billion in the quarter, marking a nearly 10% increase quarter-on-quarter and year-on-year, with a profitability rate of 17.5% [4][27] - Expenses grew by only 0.2% quarter-on-quarter and decreased by 0.5% year-on-year, indicating effective expense management [6][27] - The efficiency ratio increased slightly but remains at a better level, with a year-on-year improvement of 140 basis points [6][27] Business Line Data and Key Metrics Changes - Net interest income (NII) dropped quarter-on-quarter, particularly in market NII, while client NII increased by 2.7% quarter-on-quarter and 11.1% year-on-year [5][23] - Fees grew by 6.7% quarter-on-quarter, with strong diversification among different fee line items [5][25] - Consumer finance continues to grow at double digits annually, attracting 1 million new clients and achieving a 43% year-on-year growth in fees [15][16] Market Data and Key Metrics Changes - The company reported a stable performance in the individual's mass income segment, with a focus on reducing exposure to higher risk profiles [22] - The corporate segment showed positive evolution, maintaining price discipline despite market challenges [22] Company Strategy and Development Direction - The company aims to build a more solid and resilient operation, focusing on diversification and predictability in its customer franchise [7][14] - The "One App" initiative is a key strategic focus, designed to enhance customer experience and streamline interactions [12][35] - The company is committed to a disciplined capital management approach, emphasizing value creation and modernization [14][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory towards sustainable profitability, despite macroeconomic challenges [28][30] - The focus remains on improving customer satisfaction and maintaining a disciplined approach to credit origination [30][52] Other Important Information - The company is leveraging AI to enhance customer interactions and improve operational efficiency [10][31] - The introduction of the "One App" is expected to significantly impact customer experience and operational costs [35] Q&A Session Summary Question: Expected effects of the One App implementation - Management believes the One App will primarily enhance customer experience and enable better cross-selling opportunities, while also contributing to cost reduction [34][35] Question: Changes in cost of risk and credit quality - Management confirmed no changes in policies or management regarding cost of risk, emphasizing a disciplined approach to loan origination and recovery [42][43] Question: Risk appetite and credit growth expectations - Management indicated a focus on growing in high-profitability sub-segments while maintaining a disciplined approach to credit risk [50][52] Question: Market NII performance and future expectations - Management acknowledged the impact of fewer business days and high interest rates on market NII, with expectations for improvement as the portfolio stabilizes [81][84]

AI Application in Banking - Brazilian banks are leveraging generative artificial intelligence to simplify Pix money transfers [1] - The goal is to make sending money via Pix as easy as sending a text message on WhatsApp [1]

Core Insights - Bitget Wallet has integrated Pix, Brazil's instant payment system, allowing users to pay with self-custodied crypto by scanning Pix QR codes [1][3] - Pix has become Brazil's dominant retail payment method, processing 64 billion transactions worth $4.6 trillion in 2024, marking a 53% year-over-year increase [2] - The integration aims to enhance crypto adoption in Brazil by providing users with seamless spending options using stablecoins like USDT and USDC [3][5] Company Developments - Bitget Wallet's integration with Pix is part of its strategy to expand its presence in Brazil and Latin America, following the launch of a USD-based zero-fee crypto card [3][4] - The wallet also offers onramp and offramp services, enabling users to buy or sell cryptocurrencies directly within the app, reinforcing its position as a comprehensive self-custodial platform [4] - The integration with Pix enhances Bitget Wallet's vision of universal crypto acceptance, bridging digital assets with traditional finance [5]

Core Insights - The Brazilian Central Bank reported that the instant payment system Pix reached a record high of 290 million transactions and a total transaction value of 164.8 billion reais on September 5, marking its highest performance since its launch in November 2020 [1][1][1] - The Central Bank emphasized the significance of Pix as a public digital payment infrastructure for the Brazilian economy, enhancing financial accessibility for citizens and businesses [1][1][1] - In response to a U.S. investigation alleging unfair competition regarding Pix, the Brazilian government denied any discrimination and highlighted that Pix has improved competition and financial inclusivity, receiving positive evaluations from the IMF and OECD [1][1][1] Regulatory Developments - The Central Bank announced new measures to enhance the security of the financial system by setting a transaction limit of 15,000 reais for unauthorized payment institutions and technology service providers using Pix and TED [1][1][1] - This measure is expected to affect only about 0.03% of accounts, primarily targeting potential money laundering and criminal fund flows [1][1][1]

Core Points - The Central Bank of Brazil announced new regulations to strengthen oversight of fintech companies and payment institutions to prevent organized crime from using digital payment systems for money laundering [1][2] - New rules include a transaction limit of 15,000 Brazilian Reais for unauthorized payment institutions and those accessing the financial system through third-party technology service providers [1] - The Central Bank emphasized that 99% of corporate account transactions are below this limit, targeting large abnormal operations by criminal groups rather than suppressing the fintech industry [1] - The minimum capital requirement for third-party technology service providers has been raised to 15 million Brazilian Reais, with a four-month deadline for compliance [1][2] - All payment institutions must now obtain operating licenses in advance, with the application deadline moved up to May 2026 from 2029 to close regulatory gaps [2] - Recent investigations revealed that criminal organizations laundered illegal funds through the fuel supply chain and some fintech companies, involving amounts up to 46 billion Brazilian Reais [2] - The Central Bank's regulatory upgrades reflect its vigilance in the context of rapid digital payment development and its commitment to maintaining the integrity of the financial system [2]