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Argentina's Central Bank Approves Cocos's Acquisition of Banco Voii
🇦🇷 Argentina /Economy & Trade

Argentina's Central Bank Approves Cocos's Acquisition of Banco Voii

From La Nación · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Fintech Cocos has received approval from the Central Bank of Argentina (BCRA) to finalize its acquisition of Banco Voii.
  • This acquisition grants Cocos a banking license, enabling it to compete with established players like Ualá and Naranja X.
  • The deal, valued around US$20 million, is a key step for Cocos to expand its financial services and ecosystem for its 2 million individual clients and over 2300 businesses.

Fintech company Cocos has secured a crucial approval from the Central Bank of Argentina (BCRA) to complete its acquisition of Banco Voii, a move that will grant the company its own banking license. This milestone is seen as essential for Cocos to compete on equal footing with rivals such as Ualá and Naranja X, which already possess banking licenses, and Mercado Pago, which is awaiting its own.

The BCRA approved the acquisition of 100% of Banco Voii by the Cocos group (Nicolás Mindlin and Ariel Sbdar), announced on August 6, 2025, marking a new milestone in the company's evolution and the consolidation of its strategy as an integral financial platform.

— CocosCocos announced the BCRA's approval of the acquisition in a statement.

The acquisition, announced on August 6, 2025, marks a significant advancement in Cocos's strategy to become a comprehensive financial platform. The company stated that the deal, estimated at around US$20 million, is entering its final stages, with the definitive closing and share transfer anticipated by the end of the month.

The operation has entered its final stage and will allow the company to expand its offer of financial products and services.

— CocosCocos explained the implications of the BCRA's approval.

Nicolás Mindlin, president and co-founder of Cocos, emphasized the approval's importance for fostering a more competitive and innovative financial system. "This allows us to expand our reach, contribute to market growth, and continue bringing simple and efficient solutions to more people and businesses," he said.

The approval is a key step to build a more competitive and innovative financial system. It allows us to expand our reach, contribute to market growth, and continue bringing simple and efficient solutions to more people and businesses.

— Nicolás MindlinNicolás Mindlin, president and co-founder of Cocos, commented on the significance of the BCRA's approval.

Since its founding in 2021, Cocos has evolved from an investment-focused platform to a broader financial ecosystem. It currently serves 2 million individual clients and over 2300 businesses, managing more than US$2 billion in assets. The acquisition of Banco Voii will enable Cocos to progressively add new financial products and services, including bank accounts, access to the official dollar, savings tools, payment methods, and financing options for both individuals and companies.

To the investment solutions that millions of people use today, the company will be able to progressively add new financial products and services, including bank accounts, access to the official dollar, savings tools, payment methods, and financing alternatives for individuals and companies.

— CocosCocos described the future product offerings following the acquisition.
DistantNews Editorial

Originally published by La Nación in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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