in

Warren Buffett-Backed Nubank Now Offers Crypto Trading to 54 Million Customers – Featured Bitcoin News

Warren Buffett-Backed Nubank Now Offers Crypto Trading to 54 Million Customers

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 clients. Nubank additionally holds bitcoin on its steadiness sheet.

Nubank’s Crypto Service Now Available to All Customers

Nubank, one of many world’s largest digital banking platforms, now affords cryptocurrency buying and selling to all shoppers, in response to its weblog publish, up to date Monday. The financial institution serves round 54 million clients throughout Brazil, Mexico, and Colombia.

“Nubank Cripto is the solution to buy and sell cryptocurrencies directly through the Nu app,” the financial institution wrote, including:

The possibility to purchase cryptocurrencies via Nubank is now accessible to all our clients. Update your app.

“To help you enter this universe more safely, we decided to offer, first, the largest cryptocurrencies on the market: bitcoin and ether,” the financial institution added.

Nubank additional clarified:

For this launch, Nubank has a partnership with Paxos, an alternate specializing in cryptocurrencies.

The crypto buying and selling possibility was announced in May. It was launched first in Brazil.

Nubank additionally introduced in May that Nu Holdings, its mum or dad firm, has allotted “~1% of its balance sheet cash to bitcoin.”

Warren Buffett’s Berkshire Hathaway is a present shareholder of Nu Holdings. According to its 13F submitting with the U.S. Securities and Exchange Commission (SEC), Berkshire’s holdings as of Dec. 31, 2021, included Nu Holdings shares value greater than $1 billion. Berkshire Hathaway additionally invested $500 million in Nu Holdings in June final yr, months earlier than the corporate went public.

Buffett, nevertheless, not too long ago stated that he is not going to spend money on cryptocurrencies as a result of they don’t produce something. Meanwhile, Berkshire Vice Chairman Charlie Munger believes that crypto is “stupid and evil.”

What do you consider Warren Buffett-backed Nubank providing crypto to all clients? Let us know within the feedback part under.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational functions solely. It will not be a direct supply or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any injury or loss prompted or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or companies talked about on this article.


What do you think?

Written by Aj Singh

Leave a Reply

Your email address will not be published.

Battle-hardened Ronin bridge to Axie reopens following $600M hack

Battle-hardened Ronin bridge to Axie reopens following $600M hack

Record-Setting Jumper Tosses Biomimicry Out The Window

Record-Setting Jumper Tosses Biomimicry Out The Window