MercadoLibre posted record revenues of $2.6 billion; & more!

Sign up for my Daily Fintech or Daily Digital Banking Newsletters here. Check out my latest podcast episode below: This podcast episode is sponsored by Uncover, the new podcast by ComplyAdvantage. Join CEO Charles Delingpole and his team as they interview compliance leaders, FinTech innovators, and financial crime experts to uncover the latest best practices and industry trends. Subscribe on Apple Podcasts or Spotify today. Welcome to your daily FinTech news! NEWS HIGHLIGHT MercadoLibre posted record revenues of $2.6 billion for the second quarter, an increase of 56% year-on-year, surpassing analysts' expectations of $2.5 billion. The regional e-commerce giant beat forecasts for all key metrics. Analysts expected a gross margin of 45.9%, but the company posted a 49% gross margin for the second quarter. Link here. FINTECH NEWS #donedeal Twid raised $12 million in a funding round led by Rakuten Capital, to expand its reward points-based service. Twid is a network effect platform that combines loyalty/reward points across issuers such as banks, fintech firms, and retail/e-commerce brands. Link here. Galoy raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats. This stablecoin concept leverages derivatives contracts to create a bitcoin-backed synthetic dollar pegged to the U.S. dollar. Link here. Bounty raised $4.7M to help everyday TikTokers make money from reviews. The new service, currently in beta, is designed for everyday TikTok users — not just professional creators — who want to earn money by reviewing brands’ products. Link here.