Uruguayan fintech company dLocal has obtained a payment institution license in the UK This development adds to the company's expanding portfolio of regulatory authorizations, supporting its global growth strategy.

The company confirmed the acquisition of an authorized payment institution license from the Financial Conduct Authority (FCA Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term), the UK's financial services regulator. This license enables dLocal to onboard UK merchants for the first time, as CNBC reported.

dLocal Targets Global Merchants in UK

dLocal will begin onboarding UK merchants through a local entity, dlocal Opco Ltd UK, which was previously unable to do so due to restrictions imposed by the FCA. The company stated that these restrictions were a result of the UK's exit from the EU.

Pedro Arnt, dLocal’s CEO, highlighted the firm's focus on emerging markets as a distinguishing feature. He emphasized that dLocal's service areas, including Latin America, Africa, and Asia, set it apart from domestic competitors like Worldpay and Checkout.com. Arnt also noted plans to attract global merchants with UK operations.

According to Arnt, the UK serves as a strategic hub for companies expanding into emerging markets, particularly in Africa and Latin America.

“The UK has become a hub for many global companies — even the American companies, some Asian companies — for their emerging market expansion, primarily in Africa, and in some cases LatAm,” Arnt commented.

dLocal, Latin America's answer to Stripe, wins UK license in global expansion push https://t.co/miP40s6EWF

— CNBC (@CNBC) January 7, 2025

Expanding Operations in the UK

Founded in 2016, dLocal has established itself as a significant player in Latin America's payment sector. The company specializes in cross-border transactions in markets such as Brazil, Mexico, Colombia, and Uruguay.

With the new UK payment license, dLocal aims to expand its operations in the region. Plans include increasing the local workforce and enhancing business activities. Key executives, including Chief Operating Officer Carlos Menendez and Chief Revenue Officer John O’Brien, are already based in London.

Arnt highlighted that the UK license would enhance dLocal's credibility as a reliable partner for handling payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term in complex regulatory environments. The company now holds over 30 licenses and registrations globally, reinforcing its position in the payment industry.