Brazil navigates a dual path of expanding digital assets through Nubank and safeguarding personal data against Worldcoin's initiative.
Nubank's Cryptocurrency Portfolio Expansion
Latin America's largest digital bank, Nubank, announced the addition of four new altcoins: Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO). With this, Nubank clients can now explore a wider range of digital assets. Notably, the bank's structure, backed by investments from Berkshire Hathaway, continues to attract a young, tech-savvy audience.
Brazil's Crypto Market: Trends and Prospects
Brazil has emerged as a hub for digital asset adoption and trading in Latin America with a trading volume of $6 billion in 2024. The market is primarily focused on stablecoins, but interest in altcoins is growing. International firms like Binance and Revolut are actively entering the local market to harness its potential.
Brazil's Ban on Biometric Data Collection under Worldcoin Project
Brazil's National Data Protection Authority has confirmed the ban on financial compensation tied to the Worldcoin project aimed at encouraging the use of biometrics for digital identity creation. This decision underscores the importance of protecting personal data, especially biometric, in the modern digital environment.
Brazil is simultaneously advancing the cryptocurrency sector and strengthening personal data protection measures, highlighting the importance of a balanced approach to innovation and privacy.
