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Nubank invests in bitcoin and will allow the purchase and sale of cryptocurrencies through the application

The digital bank Nubank closed a partnership and will sell Bitcoin and Ethereum to its customers starting this Wednesday (11). In addition, Nubank announced the purchase of bitcoin for its store of value.

Many companies seek to expose themselves to this market that generated so much volume of negotiations in the last year. With its main figure being Bitcoin, this market has reached important milestones and values ​​above $1 trillion for the first time.

In this way, many companies bought bitcoin as a store of value currency. Others have released this as a means of payment, making this sector much better known around the world.

Nubank will sell bitcoin and ethereum to customers

Nubank has been approaching the cryptocurrency market for a few months now, when it started using a Ripple solution to help with the exchange. After that, one of its directors said at a Real Digital event that cryptocurrencies are promising technologies.

In early 2022, the company ended up conducting a trademark application for cryptocurrency consultancy, registered with the INPI. Thus, there were indications that there was interest from the digital bank in the digital currency sector.

And now, according to information shared with the livecoinsDavid Velez, CEO and founder of Nubank, says 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 following the market closely and we believe that there is a transformational potential in the region.

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.

At Nubank, we constantly seek to empower our customers, ensuring that they are in control of their money. Therefore, we created a simple and intuitive experience to democratize access to this new segment.”

You customers will be able to buy from R$ 1.00 in cryptocurrencies. The bank expects that by June 2022 its entire customer base will have access to this functionality.

More cryptocurrencies may be listed in the future, after Nubank’s analysis of the market. To answer customer questions about this market, a cryptocurrency page was created on the Nubank website.

In addition, customers will be able to hold cryptocurrencies in the Nubank app, but withdrawals and deposits will not be released in this initial phase of adoption.

It is worth mentioning that Mercado Livre also supports the purchase and sale 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 purchase and sale of Bitcoin for its customers, Nubank shows itself to be a believer in the future potential of the digital currency. Thus, 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 being one of the pillars of the sector that grows so much.

After the company’s purchase of Bitcoin, Nubank hired a specialized consultancy to assist the company with its environmental commitment to continue carbon neutral. Thus, the new product will be integrated following this philosophy of the bank, which says it will have zero carbon emissions in 2020.

Digital bank has 53 million customers

THE Nubank now confirms the partnership with Paxos that will allow a purchase and sale of cryptocurrencies. With the confirmation, this indicates that 53 million customers of the digital bank will have access to cryptocurrencies as of this Wednesday (10).

Charles Cascarilla, Co-Founder & CEO of Paxos, says he is excited about the partnership with the Brazilian bank, which unlocks 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 ensure that even more people can immerse themselves in this universe. This is a strategic move not only for Nubank, but for an even faster acceleration of cryptocurrency adoption in the region.”

Last Tuesday (10), Nubank also announced that with the help of singer Anitta, it managed to close a partnership with Samsung Pay, another novelty shared with customers.

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