Nubank announces new service for buying and selling cryptocurrencies – Cryptocurrencies

Nubank (NUBR33) announced this Wednesday (11) its entry into the cryptocurrency market, allowing the transaction of digital assets through the application.

The buy and sell service will be offered from today, initially with Bitcoin (BTC) and Ethereum (ETH), with a minimum transaction value of BRL 1.00.

In a statement, the company explained that the novelty begins to be made available gradually to its customers in Brazil, until reaching the entire base by the end of June this year.

“There is no doubt that cryptocurrencies are a growing trend in Latin America. We have been following the market closely and we believe that there is transformational potential in the region”, explains David Velez, CEO and founder of Nubank.

“Still, the experience of trading cryptocurrencies is very niche, as customers have little information to feel confident in entering this new market or feel frustrated with complex systems”, continues the executive, noting that the platform will be simple and intuitive to use. facilitate access to the crypto segment.

Also read: Nubank drops 50% and is worth half an Itaú in the face of negative signs for credit cards

According to the fintech, customers will be able to buy, hold and sell Bitcoin and Ethereum in the app, without the need to open accounts with other institutions or transfer money. In addition, the company said that it is carrying out curation work to add the option of other cryptos in the future.

This new product was built in partnership with the blockchain infrastructure provider Paxos, which acts as a broker and performs the custody of cryptocurrencies in the Nubank app.

According to fintech, the alliance with Paxos also guarantees the global protection of client assets by the main digital asset regulators.

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