European digital bank N26 announced the decision to discontinue its test phase in Brazil and wind down its operations in the market. „The decision underscores N26’s strategy to focus on its core European markets as it further strengthens its position as Europe’s leading digital bank.” – according to the press release.
„Early versions of the Brazilian N26 product were tested with select customers in Brazil via a waiting list from November 2021 onwards, but were never launched to the general public. Following this, N26 will close all accounts in Brazil within the next two months.” the company explains.
Brazil-based employees will have the opportunity to apply for open positions in N26’s European offices to support N26’s European business in the future.
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