In 2024, the amount of USDC held by Nubank customers increased tenfold and now around 30% of them have this asset in their portfolios. More than 50% of new Nubank Cripto users chose USDC as their first digital asset.
Nubank is expanding the feature that rewards holders of the digital dollar USDC to all users of Nubank Cripto in Brazil. This expansion allows daily returns on a minimum balance of 10 USDC in their wallets at a fixed rate of 4% per year. „The decision came after a pilot program that tested variable rates with a small group of users throughout the past year.” – according to the press release.
„To start receiving rewards, customers must access their crypto wallet in the Nubank app and click on “I Want to Participate.” The feature can be deactivated or reactivated whenever the user wishes. Returns are credited automatically every day, and liquidity is immediate.” – the bank explained.
USDC is a stablecoin backed by the US dollar, supported by highly liquid assets, and can be redeemed at a 1:1 ratio for US dollars. The reserves are publicly verifiable. This feature makes this digital currency less volatile compared to other cryptocurrencies.
Crypto Swaps with USDC
In November, Nubank launched a cryptocurrency swap tool in the app. This feature allows transactions of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for USDC (and vice versa) with reduced fees.
Customers can also set cryptocurrency price alerts, including BTC, ETH, SOL, and UNI. For USDC, exchange rate fluctuations between the US dollar and the Brazilian Real of 0.5%, 1.5%, and 2% can be monitored, while for other cryptocurrencies, alerts are triggered with variations of 3%, 6%, or 9%.
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:
