dLocal engages with Argentine authorities and announces further investments in the country
15 Juni 2023 - 10:51PM
DLocal Limited (“dLocal,” the “Company,” “we,” “us,” and “our”)
(Nasdaq: DLO), a technology-first payments platform enabling global
enterprise merchants to connect with billions of consumers in
emerging markets, today announced that the Company had a
constructive engagement with senior representatives of the
Argentine federal government to discuss, among other matters, the
manner in which dLocal operates in the country, including dLocal’s
compliance with foreign exchange regulations. The government
representatives understood the importance of the services that
dLocal provides in Argentina, the way in which dLocal promotes
financial inclusion in the country and appreciated dLocal’s
proactive engagement and willingness to cooperate with applicable
administrative and judicial authorities of Argentina.
Given the magnitude of dLocal’s business in
Argentina, dLocal intends to show additional economic substance
with its plan to hire approximately 100 people over the next year
and 300 people in the medium-term in the country. In addition,
dLocal intends to make an aggregate investment over time of up to
USD100 million in Argentina, including through locally issued
Argentinian federal government bonds US Dollar linked that may be
used locally to fulfill operating expenses and local investments
according to the company's strategy. dLocal believes that these
steps provide further testament to the fact that dLocal is in the
country for the long-term.
About DLocal
DLocal powers local payments in emerging markets
connecting global enterprise merchants with billions of emerging
market consumers across APAC, the Middle East, Latin America, and
Africa. Through the “One dLocal” concept (one direct API, one
platform, and one contract), global companies can accept payments,
send pay-outs and settle funds globally without the need to manage
separate pay-in and pay-out processors, set up numerous local
entities, and integrate multiple acquirers and payment methods in
each market.
Forward Looking Statements
This press release contains certain
forward-looking statements. These forward-looking statements convey
DLocal’s current expectations or forecasts of future events.
Forward-looking statements regarding DLocal involve known and
unknown risks, uncertainties and other factors that may cause
DLocal’s actual results, performance or achievements to be
materially different from any future results, performances or
achievements expressed or implied by the forward-looking
statements. Certain of these risks and uncertainties are described
in the “Risk Factors,” and “Cautionary Note Regarding
Forward-Looking Statements” sections of dLocal’s filings with the
U.S. Securities and Exchange Commission. Unless required by law,
DLocal undertakes no obligation to publicly update or revise any
forward-looking statements to reflect circumstances or events after
the date hereof.
Investor Relations
Contact:investor@dlocal.com
Media Contact:marketing@dlocal.com
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