Fintech giant Revolut is set to buy Small Argentinian lender Banco Cetelem from BNP Paribas, according to Bloomberg.
Revolut will secure Cetelem's assets, which are worth just $6.4 million, and, more importantly, its banking license.
Argentina represents a potentially lucrative market for a digital challenger but Revolut will be taking on local fintech players such as Uala and Mercado Pago as well as European giants BBVA and Santander.
The deal still requires sign off from Argentina central bank, says Bloomberg, citing sources.