Brazil’s Largest Digital Bank Launches Bitcoin Trading

Nubank, the largest digital bank in Brazil and Latin America has inked a deal with Paxos crypto firm to start trading cryptocurrencies. Along with the launch of the new crypto services, Nubank also announced that it had bought bitcoin (BTC) for about 1% of its cash holding. Nubank Launches Bitcoin and Ether Trading According to an official announcement, Nubank is offering the purchase of bitcoin and ether transactions starting from $ 0.20 (or 1 BRL) and will be made available in May. The crypto investment service will be fully implemented by the end of June. Nubank has also plans to add other cryptocurrencies in the long term but didn’t elaborate on which assets will be included. “There is no doubt that cryptocurrencies are a growing trend in Latin America. We have been following the market closely and we believe that there is transformational potential in the region,” Nubank founder and CEO David Velez said in the statement. Allocating 1% to Bitcoin Nunak will also allocate 1% of its equity to bitcoin through its parent company Nu Holdings Inc., which is listed on the New York Stock Exchange (NYSE). The company did not disclose the exact amount of bitcoin it bought. However, according to the company’s latest earnings report, its cash and equivalents position at the end of December was $2.7 billion.The post Brazil’s Largest Digital Bank Launches Bitcoin Trading appeared first on Cryptoknowmics-Crypto News and Media Platform.