• 127
  • 15
  • Favorite

Brazil's Nubank to Allow Cryptocurrency Transactions for Clients

Reuters2022-05-12

SAO PAULO, May 11 (Reuters) - Fintech Nubank will allow Brazilian customers to make cryptocurrency transactions on its banking app starting in May and said the company bought bitcoin of about 1% of its cash holding.

The new bank service will allow bitcoin and ether transactions starting at 1 real ($0.1950), the company said on Wednesday.

The feature will begin rolling out in May and will be available to all of the digital bank's 50 million customers by June. Nubank said it has plans to add other cryptocurrencies in the long term.

Nubank did not disclose the exact amount of bitcoin it bought. According to the company's latest earnings report, cash and equivalents position at the end of December was $2.7 billion.

Nubank shares climbed about 3% in extended trading.

($1 = 5.1290 reais)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment15

  • Ermmmmmm
    ·2022-05-12
    When crypto crashing 
    Reply
    Report
  • Jerryoic
    ·2022-05-12
    Ok
    Reply
    Report
  • JG_7
    ·2022-05-12
    Ok 
    Reply
    Report
  • NareshwG
    ·2022-05-12
    Interesting 
    Reply
    Report
  • AetherC
    ·2022-05-12
    Ok
    Reply
    Report
  • AetherC
    ·2022-05-12
    Ok
    Reply
    Report
  • LHQA
    ·2022-05-12
    Up
    Reply
    Report
  • LHQA
    ·2022-05-12
    Up
    Reply
    Report
  • aaffsmcjje
    ·2022-05-12
    Still too ex
    Reply
    Report
  • MdmPhua
    ·2022-05-12
    Ok
    Reply
    Report
  • MdmPhua
    ·2022-05-12
    Ok
    Reply
    Report
  • MdmPhua
    ·2022-05-12
    Ok
    Reply
    Report
  • WinLin
    ·2022-05-12
    That's great 
    Reply
    Report
  • AlfonsoDex
    ·2022-05-12
    Ok
    Reply
    Report
  • Pigmonkey
    ·2022-05-12
    Ok
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial