Nubank launches direct cryptocurrency transfers

Brazilian neobank Nubank (NYSE: NU) launched a cryptocurrency transfer functionality in its app, allowing customers to send and receive Bitcoin, Ethereum, and Solana directly from their wallets.

Nubank worked with blockchain data platform Chainalysis to stabilize currency pricing for its users, and to set a high standard of compliance for crypto transactions.

Nubank commercializes 16 different cryptocurrencies in its app, and it first started offering cryptocurrency solutions in May 2022. In October 2022, Nubank launched Nucoin, its own digital currency.

“We experienced a 1500% growth in transaction volume between March 2023 and March 2024, and today we are one of the largest crypto platforms in Brazil. What we are doing is putting the customer at the center of our strategy, as we do with everything at Nubank – and this implies evolving the platform to meet their needs. We want to reduce complexity and empower our customers to have control over their crypto assets,” said Thomaz Fortes, Director of Nubank Crypto.

Founded in 2013, Nubank recently surpassed 100 million clients across its three countries of operations, and it was featured as one of TIME’s 100 Most Influential Companies of 2024.

Read more from Nubank’s official announcement and on the Nubank Newsroom.