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Visa Expands in Argentina with Prisma Deal

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Visa has announced plans to acquire payment platforms Prisma and Newpay from private equity firm Advent International, strengthening its presence in Argentina’s financial technology sector.

The acquisition will integrate Visa’s global network with established local infrastructure, supporting broader adoption of digital payment solutions across the country.

Visa indicated that the move would accelerate the rollout of technologies such as tokenization, biometric verification and advanced risk management tools for both consumers and businesses.

Prisma is one of Argentina’s largest card issuing platforms, processing billions of transactions annually for major banks. Newpay complements this ecosystem by providing payment infrastructure, ATM services and electronic bill payment systems.

The transaction is expected to be completed in early 2026, though financial terms have not been disclosed.

The development reflects ongoing efforts to modernize payment systems and expand digital finance capabilities in Argentina.

OpenAI and Sur Energy Plan $25 Billion Data Center Project in Argentina

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OpenAI and Argentina-based Sur Energy have signed a letter of intent to develop a massive data center project in Argentina worth up to $25 billion, according to the country’s government. The proposed facility would have a capacity of up to 500 megawatts, making it one of the largest AI computing centers in South America.

The project will be structured under Argentina’s RIGI tax incentive program, introduced last year to attract large-scale investments in energy and technology. If completed, officials said, it would become “one of the largest technology and energy infrastructure initiatives in Argentina’s history.”

OpenAI CEO Sam Altman confirmed the plans on social media, announcing “Stargate Argentina,” the company’s first Latin American infrastructure project. “Latin America is full of talent, creativity, and ambition,” Altman said, adding that the collaboration with Sur Energy marks a major expansion of OpenAI’s global data network.

The announcement comes as OpenAI continues to deepen its partnerships with global companies following its developer conference earlier this week, where it revealed new collaborations with Spotify, Zillow, and Mattel, alongside new tools for app developers.

Libra Memecoin Tied to Argentina’s President Javier Milei Raises Rug Pull Fears

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Libra Memecoin Controversy Sparks Fears of Rug Pull

The cryptocurrency market faced turmoil over the weekend after a controversy surrounding the Libra memecoin. Argentina’s President Javier Milei allegedly promoted the token on his official X account last Friday, claiming it could help boost the nation’s economy. The now-deleted tweet fueled a rapid surge in Libra’s value, skyrocketing its market capitalization to $4.5 billion (roughly Rs. 39,090 crore) within hours. However, this meteoric rise was short-lived, and concerns over a potential rug pull quickly emerged.

A Sudden Surge Followed by a Crash

Following Milei’s endorsement, global investors flocked to Libra, causing its price to surge by 3,000 percent in record time. However, the momentum reversed just as quickly, leading to a steep crash. Blockchain intelligence firm Arkham Intelligence noted that the token was built on the Solana blockchain, which has been a popular choice for memecoins. After Libra’s valuation surpassed $4 billion (roughly Rs. 34,730 crore), Milei’s tweet promoting the token mysteriously disappeared, raising concerns about the legitimacy of the project. The abrupt deletion coincided with a 95 percent drop in Libra’s price, prompting fears of a classic rug-pull scheme, where developers promote and inflate a project before cashing out, leaving investors with losses.

Suspicious Wallet Activity Raises Red Flags

Blockchain analytics firm LookOnChain identified eight crypto wallets linked to the Libra token that collectively control 83 percent of the total supply. Such a high concentration of holdings in a few wallets further fueled suspicions of manipulation. The lack of transparency surrounding the token’s distribution and trading activity has led many in the crypto community to question its legitimacy.

Allegations of Insider Profiteering

LookOnChain also reported that the so-called “Libra team” cashed out $107 million (roughly Rs. 929 crore) through liquidity manipulation techniques. By adding and removing liquidity while claiming trading fees, insiders allegedly extracted massive profits before the price crash. These revelations have intensified scrutiny on the memecoin and its promoters, highlighting the risks of speculative crypto investments. As regulators and investors assess the fallout, the Libra memecoin saga serves as a cautionary tale in the volatile world of digital assets.