58. Bitso Goes Beyond Crypto: Oil Shock Impact, Chico Pardo Profiles, and ARQ’s Fundraise & Rebrand

Felipe Vallejo, Country Head of Bitso Mexico, explains how the company is pivoting from a crypto-first exchange into a broader investing and payments platform, leveraging stablecoins to facilitate business payments and offering individuals non-crypto digital products including global stocks and bonds.A geopolitically driven oil price spike is no longer the windfall it once was for Mexico. With the country now a structural energy importer, higher oil prices can marginally worsen the external balance and, through the IEPS fuel-tax buffer, create a fiscal hit that can outweigh the upside from crude exports, potentially leaving Pemex stronger but the federal deficit weaker.Next, we look at Bloomberg and Whitepaper’s profiles of Fernando Chico Pardo, the new chairman of Banamex. What have learnt that is new? Finally we cover Mexico fintech fundraising and product expansion. DolarApp’s rebrand to ARQ signals a shift from cross-border finance toward a daily-use platform combining FX, cards, investing and credit, backed by major global investors (Sequoia and Founders Fund, no less). We also discuss Ualá’s ambitions in Mexico and why public data suggests its progress in the market seems problematic despite continued fundraising momentum.Try Whitepaper 30 days freeBuy your Whitepaper merch here