The digital bank Nubank has entered into a partnership and will start selling Bitcoin and Ethereum to its customers from Wednesday (11). In addition, Nubank announced the purchase of bitcoin for its store of value.
Many companies are trying to expose themselves to this market that has generated so much negotiation volume in the past year. With Bitcoin as the main figure, this market has reached major milestones and values of over $1 trillion for the first time.
In this way, many companies bought bitcoin as a store of value currency. Others have released it as a means of payment, making this sector much more famous worldwide.
Nubank to sell bitcoin and ethereal cryptocurrencies to customers
Nubank has been approaching the cryptocurrency market for a few months now, as it started using a Ripple solution to help with the exchange. After that, at a Real Digital event, one of the directors said that cryptocurrencies are promising technologies.
In early 2022, the company finally filed a cryptocurrency consultancy trademark application, registered with the INPI. For example, there were indications that there was interest from the digital bank in the digital currency sector.
And now, according to information shared with the live coinssays David Velez, CEO and founder of Nubank, there is no doubt about the trend in this market in Latin America.
“There is no doubt that cryptocurrencies are a growing trend in Latin America. We have been monitoring the market closely and believe there is transformational potential in the region.
Still, the experience of trading cryptocurrencies is very niche as clients have little information to feel confident when entering this new market or are frustrated by complex systems.
At Nubank, we constantly strive to empower our customers and ensure they are in control of their money. That is why we have created a simple and intuitive experience to democratize access to this new segment.”
you customers can buy cryptocurrencies from R$1.00† The bank expects that its entire customer base will have access to this functionality by June 2022.
More cryptocurrencies may be listed in the future, following Nubank’s analysis of the market. In order to answer customer questions about this market, a cryptocurrency page has been created on the Nubank website.
In addition, customers can hold cryptocurrencies in the Nubank app, but withdrawals and deposits will not be released in this first phase of adoption.
It is worth noting that Mercado Livre also supports the buying and selling of cryptocurrencies in partnership with Paxos, a company regulated in the United States. This company also makes Dollar Paxos available to customers who have not yet reached Nubank.
Nu Holdings Bought Bitcoin As An Investment For A Company
In addition to launching the buying and selling of Bitcoin for its customers, Nubank shows its belief in the future potential of the digital currency. For example, 1% of the cash of Nu Holdings, which controls the Nubank Group, was used to buy BTC.
According to the company, Brazil is responsible for 25% of the volume of cryptocurrencies in Latin America, currently one of the pillars of the sector that is growing so strongly.
Following the company’s purchase of Bitcoin, Nubank hired a specialist consultancy to assist the company in its environmental commitment to remain carbon neutral. The new product will thus be integrated according to this philosophy of the bank, which says that it will have zero CO2 emissions in 2020.
Digital bank has 53 million customers
THE Nubank now confirms partnership with Paxos that enables the purchase and sale of cryptocurrencies† With the confirmation, it indicates that as of next Wednesday, 53 million customers of the digital bank will have access to cryptocurrencies (10).
Charles Cascarilla, co-founder and CEO of Paxos, says he is excited about the partnership with the Brazilian bank, which opens up a new experience for its customers.
“We are excited to partner with Nubank to provide its more than 50 million customers in Brazil with a secure and affordable trading experience for cryptocurrency transactions. The company’s reach and impact in the country allows even more people to immerse themselves in this universe. This is a strategic move not only for Nubank, but also for accelerating cryptocurrency adoption in the region even faster.”
Last Tuesday (10), Nubank also announced that with the help of singer Anitta, it has succeeded in establishing a partnership with Samsung Pay, another novelty shared with customers.
people, and the @anitta who introduced us to @samsungbrasil and simply delivered the biggest hit of all time? Taking Orders, Nubank feat Samsung Pay is real!
Learn everything on the blog: https://t.co/tZ0w363j1j— Nubank (@nubank) May 10, 2022
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
