Brazilian neobank Nubank, serving over 85 million clients, is expanding its crypto offering by adding four new tokens.
Expansion of Nubank’s Crypto Portfolio
Nubank announced the addition of four new tokens to its crypto offerings: Cardano (ADA), NEAR Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO). With this, Nubank’s crypto portfolio now includes 20 assets, such as Bitcoin (BTC), Ethereum (ETH), and the USD Coin (USDC) stablecoin.
Management Plans and Comments
Thomaz Fortes, executive director of Nubank’s crypto and virtual assets division, mentioned that the company plans to continue expanding its selection of tokens throughout the year, always with a careful analysis of the options.
Nubank's Previous Crypto Moves
Earlier in January, Nubank launched a fixed 4% annual return feature for USDC holders, available to all crypto wallet users. However, in September 2024, the bank suddenly stopped trading its Nucoin token, citing user protection from market volatility.
By expanding its crypto offerings, Nubank aims to strengthen its market position, despite the challenges the company faces in the process.
