What is the Interest in Cryptocurrencies Despite Bad Market Conditions?

Digital bank based in Brazil Nubankby users in the largest country in South America to cryptocurrencies expressed a strong interest in

Nubank Keeps Records of Over 1.8 Million Cryptocurrency Users in Brazil

According to the information provided by the bank, since the end of June 1.8 More than a million Brazil-based users have entered the crypto industry.

This figure represents users who have purchased at least one cryptocurrency through Nubank’s app.

The bank introduced crypto trading to all its Brazilian users at the end of June after announcing its new plan in May, and announced the end user numbers in a press release on September 26.

Nubank also reached 70 million customers for its banking services in the Latin America region. Of these, 66.4 million are in Brazil, 3.2 million in Mexico and 400 thousand in Colombia. The company also has 6 million customers for investment services.

“Our accelerating growth is driven by a continuous pursuit of efficiency that balances expansion, new products and revenue growth per customer,” said David Vélez, Nubank CEO and founder.

Brazil has seen rapid growth in crypto trading services available to consumers through digital banking and investment apps.

In the past year Mercado Libre, PicPay, BTG Pactual and XP as firms such as initiating crypto trading Binance, Bitso, Bitcoin Trade and Mercado bitcoin Cryptocurrency exchanges such as these also serve local customers.

Nubank is the fifth largest financial institution in Brazil by the number of customers.

*Not investment advice.

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