The Financial Espresso: Shopee & Tiktok; B3‘s crypto options; Rural debt; Bradesco in high income; Argentina‘s reserves & reforms

Research evidence excerpt

The Financial Espresso: Shopee & Tiktok; B3‘s crypto options; Rural debt; Bradesco in high income; Argentina‘s reserves & reforms

Global Research

8 July 2026ab

The Financial Espresso Equities

Latin AmericaShopee & Tiktok; B3's crypto options; Rural

debt; Bradesco in high income; Argentina's Financial

reserves & reforms KaioAnalystPrato

kaio.prato@ubs.com

+55-11-3513 6573

Shopee changes rules for stores and TikTok Shop readjusts rate by 50% Thiago Batista, CFA

Analyst

According to Valor, the online marketplace sector is set to undergo significant thiago.batista@ubs.com

changes again starting in July. Just a few months after adjustments that increased +55-11-3513 6518

the fees paid by sellers on Shopee and Mercado Livre, Shopee has now transferred to

Camila Azevedo

merchants the responsibility for collecting taxes from “influencers” on its platform.

Associate Analyst

There is also an ongoing restructuring of certain areas aimed at optimizing expenses camila.azevedo@ubs.com

and streamlining organizational structures, which sources say was the reason +55-11-2767 6881

behind the changes at Shopee. On the platform, controlled by Asia-based Sea

Bruno Kenji

Group, changes to the extra commission program paid by merchants to

“influencers” or affiliates will take effect on August 1, shifting to a new tax model. bruno.kenji@ubs.com

In addition, TikTok Shop’s operations in the country, which combine video content +55-11-2767 6056

with online commerce, revised seller fees. Starting on the 15th, TikTok Shop will

Beatriz Shinye

raise the fees charged to merchants. For products shipped with a value below R$ 50,

the fee increased to 10% of the sale price from 6%. The fixed fee per item sold beatriz.shinye@ubs.com

remained at R$ 4. In 2025, this per-product shipping fee was R$ 2.