Mexico’s GDP Grows 2.1% in 2Q26; State Street Makes Market Entry

This week in finance: Mexico’s GDP expanded 2.1% year-over-year during 2Q26, per INEGI. Meanwhile, US-based financial services provider State Street has agreed to acquire joint venture Santander CACEIS Latam Securities Services across Brazil, Mexico, and Colombia. In other news, BingX launched the BingX Visa Debit Card in Mexico, issued in partnership with Wirex.

More news below:

Mexico GDP Grows 2.1% in 2Q26 as Services, Farming Rebound

Mexico’s GDP expanded 2.1% year-over-year during 2Q26, recovering from a first-quarter contraction, according to data released by the National Institute of Statistics and Geography (INEGI). On a quarterly basis, real economic activity grew 1.5% compared to 1Q26, supported by a sharp rebound in agricultural output and resilient domestic consumption.

State Street to Acquire Santander Latam Ops, Enter Mexico

US-based financial services provider State Street has signed an initial agreement to acquire joint venture Santander CACEIS Latam Securities Services across Brazil, Mexico, and Colombia, expanding its institutional custody and asset administration footprint in Latin America. The transaction targets Santander CACEIS's regional operations, which hold approximately US$470 billion in assets under custody and US$225 billion in assets under administration across the three Latin American markets. Subject to regulatory approvals and closing conditions, the deal is expected to conclude in 2027. 

BingX Launches Visa Debit Card, AI Investment Tools in Mexico

Cryptocurrency exchange and Web3 AI platform BingX has officially launched the BingX Visa Debit Card in Mexico, issued in partnership with Wirex. The card enables real-time cryptocurrency conversion across Visa's global payment network, integrating digital assets directly into daily consumer and commercial transactions. Alongside the launch, BingX has also released a new, proprietary AI Claw Agents market analysis tool, which offers automated market intelligence for user investment management. Founded in 2018, BingX serves more than 40 million users globally, offering a comprehensive product suite that encompasses cryptocurrency spot trading, futures, automated copy trading, and traditional financial (TradFi) product integrations. 

Nu México to Launch Commercial Banking Operations Aug. 6

Nu México will officially begin operating as a commercial bank on Aug. 6, following its final regulatory authorization from the National Banking and Securities Commission (CNBV) and the Ministry of Finance and Public Credit (SHCP) received in early July. Upon launching multiple banking operations, Nu will become Mexico's largest digital bank, serving a customer base exceeding 15 million clients.