BMG indicators settlement with intent to amass QGX

Banco BMG (BMGB4) informed that its direct subsidiaries CBFácil Corretora de Seguros e Negócios and Raro Recrutamento em TI entered into a contractual instrument with the intention of acquiring equity interest in QGX Instituição de Pagamentos.

QGX is a fintech that works with BaaS (Banking as a Service) providing a complete and customized digital structure for the operation of digital banks, in addition to intermediating and brokering services and businesses related to the Financial Market.

“The operation is part of BMG’s strategy to create an ecosystem of startups with specialized skills, aimed at expanding current businesses, generating operational efficiency and creating new business units”, highlighted the bank.

The effective conclusion of the operation awaits approval by the Central Bank of Brazil.

Source: Finance News