Nubank Responds to Demand for Crypto Withdrawals
Brazilian neobank Nubank has announced that it will allow its customers to make crypto withdrawals from its platform starting next year. This decision comes in response to calls from the Brazilian Bitcoin community. Previously, Nubank customers were only able to buy and sell cryptocurrencies within the bank’s app but could not transfer them or use them for payments.
Cooperation with Circle to Add USDC Pairings
Nubank has also revealed that it will be adding USD Coin (USDC) pairings to its platform. The bank has reached a cooperation agreement with Circle, the operator of USDC. This move is in line with the growing demand for stablecoins among Brazilian users. Nubank aims to offer more options and flexibility to its users by exploring future integrations of Nubank Cripto with other services available in its app.
Brazilian Banks Embrace Cryptocurrencies
Nubank is not the only Brazilian bank making moves in the crypto space. Itaú Unibanco, the country’s largest private bank, recently launched a new crypto trading service. Nubank itself has been expanding its crypto offerings, adding support for 11 altcoins in 2023 and now handling a total of 15 coins, including its own cryptoasset, Nucoin. The addition of crypto withdrawals and USDC pairings demonstrates Nubank’s commitment to meeting the needs of its customers in the evolving digital asset landscape.
Hot Take: Nubank Meets Customer Demands with Crypto Withdrawals
Brazilian neobanking unicorn Nubank has listened to its customers and responded by allowing crypto withdrawals on its platform. This decision follows growing demand from the Brazilian Bitcoin community, who expressed frustration with the inability to use the bank’s app for Bitcoin payments. Nubank’s cooperation with Circle to add USDC pairings further demonstrates its commitment to providing more options and flexibility to its users. With other Brazilian banks also entering the crypto space, it is clear that the demand for cryptocurrencies is on the rise in Brazil. Nubank’s move towards embracing digital assets positions it as a leader in the evolving financial landscape.
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