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Today, Webull launched what they call a Global Account for their customers in Brazil. With Global Account, Webull unlocks a complete rewards program for customers based in Brazil by enabling them to open a US bank account and then spend in US dollars and/or in BRL in Brazil. 

Launched in 2018, Webull is a digital investment platform with 20 million users in over 180 countries globally, including the United States, Canada, Japan, Australia, and more. Earlier this year, Webull announced their entry into the Brazilian market with a suite of investment and brokerage products. Today, those same customers will now benefit from US banking and payment solutions.

Opening a US account and receiving a debit card provides Webull’s Brazilian customers with new benefits, such as:

• Complete rewards program on card spend
• Reduced costs when traveling internationally
• Ability to seamlessly move money between the US and Brazil and their brokerage and spend accounts

We’re proud to have partnered with Webull to bring this product to market. It’s been amazing to work with their team and see the care that they take to provide their customers with the best and safest financial experiences possible. 

The collaborative relationship required to build a unique and compliant program like this couldn’t be done without an incredible bank. We were thrilled to match Webull with the right bank for them and facilitate a direct relationship between the two, strengthened by a tech stack that makes communication and oversight more efficient.

Synctera provided Webull with all of the components needed to build a great product, and equipped both Webull and their sponsor bank with the data foundation, tools, and workflows needed to effectively manage compliance and operations. Being able to provide the support and guidance to get this product off of the ground has been a blast. It wasn’t our first rodeo for something like this, as we launched a similar product in the Brazilian market late last year with BTG Pactual, one of the largest financial institutions in the region. We are always learning at Synctera, and our experience with BTG gave our team first-hand knowledge on how to navigate compliance and regulation for international products.

Here’s what Ruben Guerrero, CEO of Webull Brazil and Head of Latin America for Webull, had to say: “Building out a product like this on our own would have significantly increased our cost and delayed our time to market. The easy tech integrations and complete platform that Synctera provided was invaluable to us getting up and running and operating compliantly.”

We’re excited to work and grow with Webull and watch their success continue in both Brazil and all over the world.