The UK fintech giant has submitted its application to the central bank, but faces a tough regulatory environment and deeply entrenched local competitors.
dLocal’s African challenges are not new. In 2024, Nigeria’s revenue collapsed by over 80% after a naira devaluation, turning a once-lucrative market into a minor contributor.
Following the departure of Wasoko founder Daniel Yu as CEO late last year, the combined entity is now aggressively reshuffling its regional leadership...