In a recent piece, Business Wire reported that Ripple partner dLocal has expanded deeper into emerging markets. It will now link its customer-merchants with markets in three new countries to accept and distribute local payments.
Major cross-border payment firm expands to new markets
dLocal is a top-tier transnational payment service that brings global merchants together with buyers in the developing world.
This time, the company announced that it has expanded into three markets in the Caribbean and Latin American region: the Dominican Republic, Panama and Costa Rica.
dLocal now works with more than 300 local payment companies in 23 emerging countries using its own API-based payments platform.
The company is also present in the top five countries in the emerging market with the highest population: Mexico, China, Brazil, India and Indonesia.
dLocal raises $200 mln from investors for further aggressive expansion
Almost a month prior to this new expansion, the company raked in $200 in a new funding round—planning to use these funds to turn itself into the top company in Latin America backed by venture capital.
dLocal intends to utilize the millions it raised in order to expand its presence to over a dozen new markets in the next year and a half.
In Costa Rica, the Dominican Republic and Panama, dLocal now issues MasterCard and Visa bank cards.
Together with the newly added markets, Ripple partner dLocal now works with 450 customers and links them to almost 2.5 bln consumers in emerging economies.