Baker McKenzie Latin America Financial Institutions industry group’s FintechFest is the first of a series of webinars that aims to provide insights on key market trends, opportunities, and legal and regulatory challenges to guide financial institutions and technology companies through the panoply of issues in the rapidly evolving fintech sector.
In Latin America, financial innovation is causing an unprecedented shift in financial services and is on the agenda of many policy makers. Fintech is providing opportunities to deepen financial development and competition and in Latin America, improvements in financial technology is opening doors for financial inclusion throughout the region.
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Session 2: Is Latin America ready for a cryptocurrency boom in 2021?
The second session takes a deeper look into the regulatory environment for cryptocurrencies in Latin America. The speakers traced the historical development of existing regulations and talked about the importance of creating a healthy ecosystem for cryptocurrencies and other relevant fintech innovations to prosper.
Alfonso Monroy, General Counsel of Bitso, provided an overview of the company’s business model, existing business practices, and observations on the jurisdictions where Bitso currently operates.
Panelists include Juan Carlos de los Heros (Peru), Sam Kramer (US), Carolina Pardo (Colombia), Alfonso Martinez-Bejarano (Mexico), and Gabriel Gómez Giglio (Argentina). The panelists offered questions and insights with respect to existing regulations in their jurisdictions – and shared their perspectives on what the future may look like for cryptocurrencies and the broader fintech ecosystem in Latin America.
Session 1: Building the DNA of a Successful Fintech Business in Latin America
The first session explored mega trends in the market, the resulting opportunities for businesses, and legal and regulatory challenges with a view to helping financial institutions and businesses better navigate the rapidly changing world of fintech.
Dan Cohen, CEO and founder of Tienda Pago, provided an overview of the company’s business model, objectives, and strategies. He also spoke about developments around fintech, as well as relevant legal and regulatory challenges that are shaping the company’s future.
Speakers include Juan Carlos de los Heros (Peru), Gabriel Gómez Giglio (Argentina), Ricardo Trejos (Colombia), Luis Ernesto Marin (Peru), Marie Roschelle Quintero (Venezuela) and Alfonso Martinez-Bejarano (Mexico). They discussed various developments and challenges within Latin America. They also posed critical questions for Dan Cohen, providing better context in understanding some of these legal, regulatory, and business challenges from a company’s point of view.