Brazil’s largest digital bank, Nubank, announced on Wednesday that it will launch cryptocurrency trading on its platform in partnership with Paxos.
According to the statement by Paxos 50 million users Cryptocurrency buying, selling and custody services will be available through the bank. Nubank is a publicly traded bank, as well as Warret Buffet’s second largest conglomerate in the world Berkshire Hathaway also supported by With the acquisition of Berkshire Hathaway in February 1 billion dollars He owns a stake in Nubank.
Nubank CEO and co-founder David Vélez said in a statement:
“As a growing trend, there’s no doubt that crypto is having a breakthrough impact on the region in Latin America as well. Despite this, investors who are new to the cryptocurrency industry are worried about the complexity and lack of knowledge. For this reason, this area still maintains a new and different impression for customers.”
More than 50 million users of Nubank in May Bitcoin and Ethereum they can start trading.
Paxos stated that despite the falling market for Nubank’s breakthrough in cryptocurrency trading, the interest of institutional investors continues. Also, in their statement:
“We are accelerating crypto adoption by working with brands and platforms that people already trust. We are proud to bring millions of people to a more effective financial system and to work in partnership with Nubank for this.”