Brazil’s Largest Neobank Plans to Open Access to Cryptos

Reading Time: < 1 minute

Nubank has announced a partnership with Paxos. As part of the deal, during May-July, digital bank customers from Brazil will be able to buy, sell and store Bitcoin and Ethereum.

The minimum transaction amount will be 1 BRL or about $0.195.

The list of supported cryptocurrencies will be expanded in the future. To increase the degree of validity of investment decisions, educational resources will be launched.

At the same time, Nu Holdings, which controls the neobank, will use 1% of its net assets to buy bitcoin as a reserve asset.

David Vélez, CEO and Founder of Nubank, has said:

“Cryptocurrencies are becoming more and more popular in Latin America, transforming the region. We have created a secure, simple and intuitive interface that will provide access to new assets.”