Soon it will be possible to buy and sell crypto assets through Nubank. The digital bank recently announced that users would be able to trade bitcoin and ether through the app.
As of June 2022, Nubank Cripto can offer crypto assets to 550 million users who are part of the Brazilian fintech. In addition, the company announced that it would allocate 1% of its cash flow in bitcoin.
Based on the growing adoption of digital currencies in Brazil, Nubank decided to offer the buying and selling of bitcoin and ether. However, the novelty is still in the testing phase, and the fintech claims that the service should democratize access to the crypto market.
“Nubank Crypto is coming to democratize access to this universe for anyone who wants to be part of it, taking away the market’s complexity.”
Nubank Cripto’s crypto asset offering will bring educational content about the crypto market. As the digital bank states, the idea is to present content about the risks and decisions on this type of investment.
“We want to give you the necessary information about how crypto assets work and what risks are involved so you can make the best decisions about your money”.
In addition to buying and selling, the app can function as a digital wallet, as Nubank will store the balance in crypto assets. It will be possible to trade bitcoin and ether in Nubank Cripto from R$ 1.
Nubank Cripto aims to educate investors
Therefore, the digital bank explained that it chose bitcoin and ether because they are the most significant crypto assets in the market by capitalization volume.
“We decided to start with the market’s largest crypto assets: the bitcoin and ether. Together, these crypto assets represent 60 % of the crypto market, which already adds up to around US$2 trillion in market value”.