Nubank, the largest digital banking platform in the world outside of Asia, announces the launch of its cryptocurrency transfer functionality. „Now, customers can send and receive crypto assets directly from their wallets. The solution, which is being gradually rolled out, is available for Bitcoin, Ethereum, and Solana. More cryptocurrencies and networks will be added soon.” – according to the press release.
Thomaz Fortes – Director of Nubank Crypto, comments on the recent launch: “We experienced a 1500% growth in transaction volume between March 2023 and March 2024, and today we are one of the largest crypto platforms in the country. What we are doing is putting the customer at the center of our strategy, as we do with everything at Nubank – and this implies evolving the platform to meet their needs. We want to reduce complexity and empower our customers to have control over their crypto assets”.
„The new feature adopts an exclusive pricing approach, using a structure that stabilizes the constant fluctuations of the blockchain. This product has been meticulously designed to ensure attractive fees, along with Nubank’s unique experience.” the company said.
“This new transfer functionality offers our customers complete freedom to move their assets whenever and however they wish, with highly competitive rates. Another demand met, and we are very pleased to provide it in a structured and comprehensive way,” explains Thomaz.
Nubank is working with Chainalysis, the blockchain data platform, to set a high standard of compliance for all crypto transactions. This collaboration aims to further protect customers.
Blockchain technology, known for its versatility in asset tokenization, smart contract execution, and fast transfers, has become an essential foundation for transaction security and efficiency. Beyond its conventional applications, Nubank is actively leveraging Chainalysis technology to monitor addresses on the blockchain, identifying and disrupting any suspicious activity or activities associated with illicit activities.
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Nubank announced earlier this month that it has surpassed 100 million customers in Brazil, Mexico, and Colombia, making it the first digital banking platform to reach this milestone outside of Asia. The achievement comes on the heels of record 2023 financial results, with over US$1 billion in net profit and over US$8 billion in revenues.
Currently, Nubank serves more than 92 million customers in Brazil, over 7 million in Mexico, and close to 1 million in Colombia. According to internal analyses, the company’s NPS (Net Promoter Score) is nearly three times higher than incumbents and other major local fintechs.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
