Neon Pagamentos SA - a financial technology startup, or fintech, that used the infrastructure of Banco Neon to process checking accounts - was not liquidated, the central bank said. However, it was forbidden from opening new accounts and its current users may have their accounts blocked. Banco Neon did not respond to requests for comment. Its website posted a copy of the central bank decree liquidating the bank due to “grave violations of legal and regulatory norms” and its “compromised financial situation.”

https://www.reuters.com/article/banco-neon-liquidation/update-1-brazil-central-bank-liquidates-banco-neon-in-fintech-setback-idUSL1N1SB1PU