dLocal issues response to the press article allegations
27 May 2023 - 4:01AM
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 we were subject to a set of misleading
allegations in an article published by Infobae, who has not reached
out to the company for comments, about alleged non compliance with
expatriation rules in Argentina. dLocal operates in the payments
industry and is regulated by government authorities across its 40
geographies. The referred article is factually incorrect:
1. dLocal processes payments for global
merchants. Our activities are subject to government regulations
specific to each currency being exchanged. In Argentina,
expatriation of funds are conducted through regulated parties that
follow the Central Bank of Argentina rules, containing detailed
information at a payment transaction level. Funds expatriated from
Argentina are settled to global merchants, net of taxes.
2. As part of our day to day activities, we are
in close contact with authorities and there is a continuous flow of
information. To the extent we are notified by authorities in
Argentina (or any other geography), we engage meaningfully and
cooperate with any requests from regulatory authorities. As of
today, we have not been notified by any Argentinian authority
regarding a foreign exchange investigation.
3. We continue to process payments normally in
Argentina. We have been operating in the country since 2016 and
have a solid local presence with over 150 employees across numerous
offices.
We will maintain our focus on delivering
outstanding service and results for our customers, shareholders and
other stakeholders. We will not be distracted by misleading
allegations. dLocal is committed to the integrity of all its
business activities and will continue to focus on providing the
best and most comprehensive solution for our global merchants in
each market in which we operate.
About dLocal
dLocal powers local payments in emerging
markets, connecting global enterprise merchants with billions of
emerging market consumers in 40 countries across APAC, the Middle
East, Latin America, and Africa. Through the “One dLocal” platform
(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,” “Forward-Looking Statements” and “Cautionary
Statement Regarding Forward-Looking Statements” sections of
dLocal’s filings with the U.S. Securities and Exchange Commission.
See “Risk Factors” and the other information included in our
filings for a discussion of factors that should be considered
before deciding to invest in our shares. 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:ir@dlocal.com
Media Contact:marketing@dlocal.com
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