Nubank, one of Latin America’s leading digital banks and an innovative financial service provider backed by Warren Buffett’s Berkshire Hathaway, has significantly enhanced its cryptocurrency portfolio. In an exciting announcement made on March 25, the bank revealed the addition of four notable altcoins: Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO). This expansion adds to Nubank’s growing client base of 100 million in Brazil, spotlighting its commitment to digital assets in an evolving financial landscape.
With the incorporation of these new cryptocurrencies, Nubank Cripto will now offer a total of 20 coins. This move comes as market excitement swirls around cryptocurrencies, particularly as the combined market capitalization of the newly added coins stands at around $34.6 billion. Additionally, Nubank’s revenue has sky-rocketed to nearly $3 billion by the end of 2024, marking a staggering growth from $245 million just a few years prior in Q1 2021.
Nubank isn’t alone in its venture into crypto. Competition is heating up in Brazil’s burgeoning cryptocurrency sector, with Binance also making headlines by securing the first-ever broker-dealer license to operate within the country’s regulations in January 2025. As cryptocurrency transactions in Brazil surge—where stablecoins represent approximately 90% of crypto transactions—Nubank is positioning itself strategically in this vibrant marketplace.
Since venturing into the crypto scene in 2022, Nubank has invested 1% of its net assets into Bitcoin (BTC) while offering a range of services for clients to buy, sell, and swap popular cryptocurrencies like Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC, and XRP. This groundbreaking approach represents Nubank’s ambition to lead in digital finance and meet the increasing demand for cryptocurrency services.
Brazil holds the title of the largest economy in Latin America, boasting a gross domestic product (GDP) estimated at around $5.4 trillion as of 2024, making its cryptocurrency market an attractive frontier for investment and innovation. Lawmakers are currently discussing legislation to facilitate salary payments in Bitcoin, further indicating the country’s commitment to integrating cryptocurrency into daily financial transactions. With rising awareness and the increasing legitimacy of digital currencies, Nubank is poised to cement its role as a leader in the financial services industry.
