Largest Latin America Neobank Starts Offering Bitcoin and Ether Services
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May 12, 2022

Nubank, Latin America's largest online neobank, is now offering bitcoin (EXANTE: Bitcoin) and ether (ETH) services with the minimum purchase amount of $0.20. In partnership with Paxos, the neobank plans to offer the new business arm to its entire 50 million customer base by end of July.

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Paxos said in a blog announcement that Nubank will roll out crypto-services in a phased manner. David Vélez, CEO and Founder of Nubank, says the trading experience is still "very niche" as customers either "lack information to feel confident to enter this new market." Vélez added:

"There is no doubt that crypto is a growing trend in Latin America, one that we have been following closely and believe will have a transformational impact on the region."

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Nubank says it will also provide educational resources to customers interested in the crypto market to support informed investment decisions. Moreover, Nubank's parent company has also allocated around 1% of its balance sheet cash to bitcoin, the company said. However, the amount of the investment remains unclear.

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