Nubank, a popular Brazilian fintech startup, has added five more cryptocurrencies to its Nubank Money app. The new additions, announced on Monday, include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Tether (USDT) and Gemini Dollar (GUSD). This brings the total number of cryptos available for users of the app to seven, as it already offered Litecoin (LTC) and Dai (DAI).
The launch of the new altcoins is part of Nubank’s strategy to expand its cryptocurrency offering and provide users with more access to digital assets. Through the app, users can buy and sell crypto, and also make payments with certain supported cryptos. The new additions are expected to draw more engagement from Brazilian crypto users and create a more active crypto market in the country.
The news of the altcoin additions has been largely greeted in Brazil as a positive sign for the growth of the local crypto industry. In recent weeks, the country has seen a surge in activity from both local and foreign cryptocurrency companies, with a focus on building more comprehensive cryptocurrency products and services that are tailored for the Brazilian market. The moves are also likely to bolster the country’s digital economy, which is growing rapidly.
Brazil is quickly becoming one of the leading countries in the world for cryptocurrency adoption and usage, as many companies are beginning to recognize the opportunity and are working to create products and services that meet the needs of Brazilian crypto users. Nubank’s move is just the latest sign of the increasing importance of crypto in Brazil and is likely to encourage more activity from both local and foreign companies.
