Warren Buffett-backed Nubank now offers crypto trading for 54 million customers – highlights of Bitcoin

Warren Buffett-backed Nubank now offers crypto trading for 54 million customers – highlights of Bitcoin

Nubank, backed by Warren Buffett, one of the world’s largest digital banking platforms, now offers cryptocurrency trading for all of its 54 million customers. Nubank also holds bitcoin in its balance sheet.

Nubank’s crypto service is now available to all customers

Nubank, one of the world’s largest digital banking platforms, now offers cryptocurrency trading to all customers, according to its blog post, updated Monday. The bank serves about 54 million clients across Brazil, Mexico and Colombia.

“Nubank Crypto is a solution for buying and selling cryptocurrencies directly through the Nu application,” the bank wrote, adding:

The option to purchase cryptocurrencies through Nubanka is now available to all our clients. Update your app.

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

Nubank further clarified:

For this launch, Nubank has a partnership with Paxos, a stock exchange specializing in cryptocurrencies.

The crypto trading option was announced in May. It was first launched in Brazil.

Nubank also announced in May that Nu Holdings, its parent company, had allocated “~ 1% cash in its bitcoin balance sheet”.

Warren Buffett’s Berkshire Hathaway is the current shareholder of Nu Holdings. According to his 13F report to the U.S. Securities and Exchange Commission (SEC), Berkshire’s stake as of Dec. 31, 2021, includes shares of Nu Holdings worth more than $ 1 billion. Berkshire Hathaway also invested $ 500 million in Nu Holdings in June last year, months before the company went public.

Buffett, however, recently said he would not invest in cryptocurrencies because they produce nothing. Berkshire Vice President Charlie Munger, meanwhile, believes the crypto is “stupid and evil.”

What do you think about Nubanka supported by Warren Buffett which offers cryptocurrencies to all clients? Let us know in the comments section below.

Warren Buffett-backed Nubank now offers crypto trading for 54 million customers – highlights of Bitcoin

Kevin Helms

A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open source systems, network effects and the crossroads between economics and cryptography.




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