Warren Buffett-backed Nubank, one of many world’s largest digital banking platforms, is now providing cryptocurrency buying and selling to all of its 54 million prospects. Nubank additionally holds bitcoin on its steadiness sheet.
Nubank’s Crypto Service Now Accessible to All Prospects
Nubank, one of many world’s largest digital banking platforms, now provides cryptocurrency buying and selling to all shoppers, in keeping with its weblog put up, up to date Monday. The financial institution serves round 54 million prospects throughout Brazil, Mexico, and Colombia.
“Nubank Cripto is the answer to purchase and promote cryptocurrencies instantly via the Nu app,” the financial institution wrote, including:
The choice to purchase cryptocurrencies via Nubank is now obtainable to all our prospects. Replace your app.
“That can assist you enter this universe extra safely, we determined to supply, first, the biggest cryptocurrencies available on the market: bitcoin and ether,” the financial institution added.
Nubank additional clarified:
For this launch, Nubank has a partnership with Paxos, an change specializing in cryptocurrencies.
The crypto buying and selling choice was introduced in Might. It was launched first in Brazil.
Nubank additionally introduced in Might that Nu Holdings, its dad or mum firm, has allotted “~1% of its steadiness sheet money to bitcoin.”
Warren Buffett’s Berkshire Hathaway is a present shareholder of Nu Holdings. Based on its 13F submitting with the U.S. Securities and Alternate Fee (SEC), Berkshire’s holdings as of Dec. 31, 2021, included Nu Holdings shares price greater than $1 billion. Berkshire Hathaway additionally invested $500 million in Nu Holdings in June final 12 months, months earlier than the corporate went public.
Buffett, nevertheless, lately mentioned that he won’t make investments in cryptocurrencies as a result of they don’t produce something. In the meantime, Berkshire Vice Chairman Charlie Munger believes that crypto is “silly and evil.”
What do you consider Warren Buffett-backed Nubank providing crypto to all prospects? Tell us in the feedback part beneath.
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