Méliuz, a company specializing in cashback and with shares traded on B3, recorded a drop of almost R$3 billion in the volume of transactions processed by Bankly, its main business bet – aimed at carrying out transactions with cryptocurrencies.
The fall led Méliuz to assess the separation of Bankly from the group. Today, the company’s financial results are included in the group’s balance sheet.
Bankly is a fintech acquired by Méliuz a year and a half ago for R$324 million. Specializing in payment solutions, its main contract involved the provision of such services for the global cryptocurrency giant Binance.
However, in June, commercial disagreements led Binance to break the contract with a company that, to serve it, used Bankly services.
The result of this setback appeared in Méliuz’s balance sheet. According to the company, the Total Payment Volume (TVP) fell from BRL 8.3 billion in the first quarter to BRL 5.4 billion at the end of September – a 35% drop in six months.
When contacted, Méliuz did not respond until the publication of this note.
Julio Wiziack (interim) with Paulo Ricardo Martins and Diego Felix
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