Nubank Cripto’s Growth: Integrating USDC and Reducing Trading Costs for Crypto in Brazil
In a strategic move, Warren Buffett-backed Nubank has teamed up with crypto companies Circle and Talos to bolster cryptocurrency access and adoption in Brazil.
Nubank Cripto, one of Latin America’s largest neobanks, has introduced 11 new cryptocurrency options this year, expanding its offerings to a total of 15 digital assets. The collaboration with Circle involves the integration of stablecoin USDC within the Nubank Cripto app, aiming to enhance digital dollar accessibility in Brazil.
Additionally, Nubank has partnered with Talos to reduce trading costs for customers engaging in crypto transactions with Brazilian reais. The neobank, boasting 80.4 million customers in Brazil, further solidifies its position in the market, backed by influential investors such as Warren Buffett’s Berkshire Hathaway and Softbank Group Corp. The CEO of Circle, Jeremy Allaire, noted the growing demand for digital dollars in Latin America, particularly in Brazil, emphasizing its role in driving digital currency adoption in the region.
Clever Robot News Desk 9th December 2023