<SEC-DOCUMENT>0000950103-26-006779.txt : 20260504
<SEC-HEADER>0000950103-26-006779.hdr.sgml : 20260504
<ACCEPTANCE-DATETIME>20260504164428
ACCESSION NUMBER:		0000950103-26-006779
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260504
DATE AS OF CHANGE:		20260504

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			dLocal Ltd
		CENTRAL INDEX KEY:			0001846832
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-93358
		FILM NUMBER:		26938544

	BUSINESS ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA, 1294
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
		BUSINESS PHONE:		598-9921-2146

	MAIL ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA, 1294
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Azar Alberto Eduardo
		CENTRAL INDEX KEY:			0001910034
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	MAIL ADDRESS:	
		STREET 1:		DR. LUIS BONAVITA 1294
		CITY:			MONTEVIDEO
		STATE:			X3
		ZIP:			11300
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0000950103-22-002417</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Azar Alberto Eduardo -->
          <cik>0001910034</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Class A Common Shares, par value $0.002 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001846832</issuerCik>
        <issuerName>DLocal Limited</issuerName>
        <issuerCusips>
          <issuerCusipNumber>G29018101</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>Dr. Luis Bonavita, 1294</com:street1>
          <com:city>Montevideo</com:city>
          <com:stateOrCountry>X3</com:stateOrCountry>
          <com:zipCode>11300</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Azar Alberto Eduardo</reportingPersonName>
      <citizenshipOrOrganization>X0</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>653024.00</soleVotingPower>
        <sharedVotingPower>17820816.00</sharedVotingPower>
        <soleDispositivePower>653024.00</soleDispositivePower>
        <sharedDispositivePower>17820816.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>18473840.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>10.3</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Aqua Crystal Investments Ltd.</reportingPersonName>
      <citizenshipOrOrganization>J1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>17820816.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>17820816.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>17820816.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.9</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>DLocal Limited</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>Dr. Luis Bonavita, 1294, Montevideo, Uruguay, 11300</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This Schedule 13G is being filed by Alberto Eduardo Azar and Aqua Crystal Investments Ltd. (the "Reporting Persons"). The Reporting Persons are shareholders of the Issuer.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The principal office and business address of the Reporting person is Dr. Luis Bonavita, 1294, Montevideo, Uruguay, 11300.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>See row 4 of the cover pages to this Schedule 13G.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>All ownership percentages assume that there are 178,799,838 Class A common shares outstanding as of March 2, 2026, as reported by the Issuer to the Reporting Person.

The information set forth in Item 2 above is incorporated by reference for the Reporting Person. The ownership consists of 17,820,816 Class A common shares held by Aqua Crystal Investments Ltd and beneficially owned by Alberto Eduardo Azar and 653,024 Class A common shares held by Alberto Eduardo Azar directly.

Alberto Eduardo Azar disclaims any beneficial ownership of the shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.

See row 9 of the cover pages to this Schedule 13G.</amountBeneficiallyOwned>
        <classPercent>See row 11 of the cover pages to this Schedule 13G.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See row 5 of the cover pages to this Schedule 13G.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See row 6 of the cover pages to this Schedule 13G.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See row 7 of the cover pages to this Schedule 13G.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See row 8 of the cover pages to this Schedule 13G.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>Y</notApplicableFlag>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Azar Alberto Eduardo</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Alberto Eduardo Azar</signature>
        <title>Alberto Eduardo Azar</title>
        <date>05/04/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Aqua Crystal Investments Ltd.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Lee Abudarham</signature>
        <title>Lee Abudarham/Director</title>
        <date>05/04/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
