JPMorgan Chase Takes 40% Stake in Brazil’s C6 Bank
JPMorgan Chase and C6 Bank announced today that they have entered into a strategic agreement, whereby JPMorgan Chase will take a 40% ownership stake in the full-service Brazilian digital bank, subject to regulatory approvals. Financial terms of the transaction were not disclosed.
Launched in 2019, C6 Bank has amassed more than 7 million customers on its digital platform. Positioned as an aspirational brand, C6 Bank offers a full suite of products including multi-currency checking and savings accounts, debit and credit cards, travel and loyalty programs, investment and lending products for individuals as well as banking and payments products for small businesses.