The sources, who spoke on condition of anonymity due to the confidential nature of the plans, said TikTok has applied for two separate licenses with Brazil’s central bank. One would allow the company to operate as an "electronic money issuer," enabling users to hold balances, receive funds, and make payments directly within the app. The second would authorize TikTok to function as a "direct credit company," a type of fintech that cannot accept public deposits but can lend its own capital or facilitate loans by connecting borrowers and lenders.
If approved, TikTok could begin offering a range of financial services to Brazilian consumers, following a model popularized by digital banks such as Nubank, the country’s largest online bank.
It remains unclear whether TikTok intends to launch entirely new financial products or focus primarily on supporting e-commerce and monetization features on its platform. TikTok did not respond to requests for comment, and Brazil’s central bank also declined to provide details.
The push into financial services comes as ByteDance executives, including Global Payments head Liao Baohua, met with central bank chief Gabriel Galipolo in Brasilia earlier this week, according to Galipolo’s public calendar.
ByteDance has previously launched similar initiatives in other markets. In China, it introduced Douyin Pay in 2021 to compete with established mobile payment platforms such as Alipay and WeChat Pay. In 2023, TikTok applied for a payments license in Indonesia but was blocked from processing transactions directly on the platform, prompting the company to seek local partnerships instead.
Brazil represents a strategic market for TikTok’s regional expansion. The company announced late last year it would invest more than 200 billion reais ($38.4 billion) in a local data center, reflecting the country’s strong social media penetration. Research firm DataReportal reported that TikTok had 131 million users aged 18 and above in Brazil at the end of 2025, with advertisements reaching 80% of all adults in the country.
If successful, TikTok’s entry into financial services could position it as a significant player in Brazil’s growing digital banking and payments sector, combining its massive user base with financial products to deepen engagement and commerce on the platform.