Warren Buffett-backed Nubank is launching cryptocurrency trading for its 54 million customers. crypto bitcoin $BTC
tarting with bitcoin and ether, the bank explained that its 54 million customers can “buy, hold and sell cryptocurrency all from the same app, with no need to open new accounts or transfer money.”Nubank, one of the world’s largest digital banking platforms, announced Wednesday that it is entering the crypto trading market. The bank serves around 54 million customers across Brazil, Mexico, and Colombia.
Prior to this launch, Nubank clients could gain exposure to cryptocurrencies through exchange-traded funds and funds offered by Nuinvest, formerly known as Easynvest. The announcement adds that “Nubank will do frequent curation” in order to offer more cryptocurrencies to clients. Furthermore, the bank will “provide educational resources to customers interested in digital currency transactions, to support informed investment decisions.”Nubank’s crypto trading is operated in partnership with Paxos, a regulated blockchain infrastructure provider that will act as a custody provider and broker, according to the announcement.
The transaction reinforces the company’s conviction in the current and future potential of bitcoin in the region’s financial services landscape.
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