Mercado Libre has transformed from an e-commerce platform into a leading Fintech company in Latin America with its payment service, Mercado Pago. As it aims to become the largest digital bank in the region, it faces competition from Nubank, which has a strong foothold in lending. The company's growth is supported by a significant increase in online shopping and a robust logistics network.

The article discusses the transformation of embedded finance and its impact on the fintech and e-commerce sectors, highlighting insights from Azizov of B2 Ventures. It emphasizes the growing importance of integrating financial services into various platforms and the opportunities this presents for businesses and consumers alike.

Coupang, South Korea's leading e-commerce platform, has failed to capitalize on the fintech opportunity despite its significant market share. While the company dominates e-commerce with nearly 40% of the market, its fintech services, primarily Coupang Pay and a co-branded credit card, have made minimal contributions to revenue as it lagged behind competitors in mobile wallet adoption. This oversight has cost Coupang the chance to expand into more lucrative financial services like loans and insurance.

Sea Limited, originally a gaming company with Garena, has successfully expanded into e-commerce and financial services, becoming a significant player in Southeast Asia's Fintech sector. Profits from its gaming operations have fueled the growth of its platforms, including the transition from SeaMoney to Monee for financial services. The company's synergy between gaming, commerce, and financial services showcases a unique business evolution.