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Stark Bank, a Brazilian online-only bank backed by Jeff Bezos' family office, is emerging as a key financial provider for the country's cryptocurrency startups. The bank aims to support this sector, which has been largely overlooked by traditional financial institutions. Recently, it has become the largest backer of Bitcoin and crypto firms in Brazil, with over 50 startups currently receiving its support. Stark Bank has processed $48 billion in payments during 2024, indicating its growing influence in Brazil's crypto landscape. Founder Rafael Stark noted that the bank is addressing the challenges faced by cryptocurrency businesses in navigating traditional financial systems, particularly amid ongoing regulatory changes.
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