OKTO’s strategic portfolio company, U4C, has been authorised to process payments in the Paraíba Lottery.
The move “further cements the group’s preparedness for the evolving regulatory framework in the betting landscape,” the company said.
OKTO’s country manager for Brazil, Leonardo Chaves, said the company is “well prepared” to navigate a regulated Brazilian market, as it looks to “ensure compliance and responsible practices.”
U4C CEO Tulio Ianni labelled the Paraíba Lottery accreditation a “significant milestone.”
“We look forward to leveraging this authorization to provide excellent payment experiences for the Paraíba Lottery while staying updated with the evolving regulatory landscape,” Ianni added.
U4C is a registered payment institution authorised by the Central Bank.
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