Crypto: Nubank Offers ADA, NEAR, ATOM, And ALGO To Its 100 Million Users

The Brazilian giant Nubank is continuing its offensive in cryptocurrencies. Backed by Berkshire Hathaway, the neobank is adding four new altcoins to its platform. With 100 million users, this expansion marks a turning point for the adoption of crypto-assets in Latin America.

An expansion that strengthens Nubank in the crypto sector

According to the announcement made on March 25, Nubank is integrating 4 major crypto assets on its platform. They are:

• Cardano (ADA)
• Near Protocol (NEAR)
• Cosmos (ATOM)
• Algorand (ALGO)

With this integration, the Brazilian neobank is thus expanding its crypto portfolio to 20 digital assets. This decision is part of a strategy for diversification and opening up to a wider audience, at a time when interest in altcoins is growing in Brazil.

This expansion comes especially as Nubank’s financial growth is skyrocketing. In less than four years, the bank has indeed seen its revenues soar from 245 million dollars in the first quarter of 2021 to nearly 3 billion dollars by the end of 2024. A figure that illustrates the massive adoption of digital financial services in Latin America!

Backed by Berkshire Hathaway, the neobank is adding four new altcoins to its platform. With 100 million users, this expansion marks a turning point for the adoption of crypto-assets in Latin America.

A Brazilian crypto market in full transformation

Brazil is establishing itself as a major crypto hub in Latin America. The proof: the country’s digital ecosystem is booming.

• GDP of 5,400 billion dollars
• Crypto transaction volume exceeding 6 billion dollars

However, the Brazilian crypto market remains dominated by stablecoins. The latter represent 90% of transactions in 2024.

Through its approach, Nubank seems to want to accelerate the adoption of altcoins by offering its customers easier access to a broader selection of cryptocurrencies. Today, it is closely trailing Binance, which is the first crypto exchange to obtain a broker license in Brazil.

With this new offer, Nubank thus reinforces its position as a fintech leader in Latin America. Moreover, it contributes to shaping the future of crypto-assets in the region. It remains to be seen whether the neobank will actually be able to change the dynamics of the Brazilian crypto market!