Cryptos in Brazil: 1.8 million customers seduced by this neo-bank in just 2 months

Crypto seduces Brazil Nubankone of the largest digital banks in Latin America, records a huge success for the launch of its offer of cryptocurrency exchange service. Its offer, made available to its customers for only 2 months, has generated an influx of more than‘1.8 million users. If we already knew that Brazil was a land conducive to the democratization of cryptocurrencies, these figures are still surprising.

Nubank: a bank that meddles in the cryptosphere

Nubank is a Brazilian neo-bank currently placed at fourth place of the most important financial institutions in Latin America. IPO at the end of 2021 with a market capitalization of more than $50 billionNubank had in its projects the investment in the sector of crypto-assets.

Already in September 2020, i.e. 2 years before its new service offer, the neo-bank acquired the cryptocurrency trading platform Easyinvest. Courted by large investment funds, such as Berkshire Hathaway, Nubank occupies a sought-after status, since it weighs heavily in the Latin American banking sector and invests in that of crypto-assets. Nubank, not coming out of nowhere, said last May that it intended to offer services of buying and selling cryptocurrencies to its customers.

This news was followed by the effective opening of its crypto service in collaboration with Paxos. Their cryptocurrency trading platform therefore opened its doors to the public at the end of June to register a unquestionable success. In total, less than a month after its commissioning, Nubank had almost1 million buyers unique cryptocurrency. At present (3 months after opening), it is no less than1.8 million Brazilian customers who have made at least one cryptocurrency purchase through Nubank.

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Growing Crypto Adoption in Brazil

“This extraordinary achievement of 1 million customers in the crypto world in such a short time shows that we are on the right track, well positioned and in line with our goal of democratizing cryptocurrencies and providing customer access to new financial opportunities. »

Statement by Thomaz Fortez, Head of Nubank’s Crypto Sector

NuBank’s objective is to actively participate in the democratization and theadoption cryptocurrencies in Brazil. The market represents a huge growth potential. And the earlier the central players are positioned, the better they will benefit. Knowing that Brazil is beginning to seize serious about the subject of cryptocurrency regulation, the time is in theory ideal to take part in the race. Especially since, even if we are at beginnings of what a real adoption of cryptocurrencies could represent, Brazil is already among the countries most affected.

Adoption of crypto technology around the world – Source: chain analysis

According to Chainalysis’ Popular Crypto Adoption Index for the year 2022, Brazil is in seventh place in the world rankings, two places below the United States.

The success of the launch of Nubank not only reveals a strong interest of the Brazilian population for cryptocurrencies, but also a craze tested by the fragility of the market. Whereas bitcoin and altcoins are seeing red and as the last hopes of a rise evaporate, adoption gains ground. the Brazil anyway seems favorable at the advent of cryptocurrencies.

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Cryptos in Brazil: 1.8 million customers seduced by this neo-bank in just 2 months


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