Bitcoin
Warren Buffett-backed Nubank Now Offers Crypto Trading To 54 Million Customers
Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, is now offering cryptocurrency trading to all of its 54 million customers. Nubank also has bitcoin in its balance sheet.
Nubank’s Crypto Service Now Available to All Customers
Nubank is one of the largest digital banking platforms in the world. According to its Monday blog post, cryptocurrency trading is now available to all clients. The bank serves around 54 million customers across Brazil, Mexico, and Colombia.
“Nubank Cripto allows you to sell and buy cryptocurrencies through the Nu app,” said the bank.
The option to buy cryptocurrencies through Nubank is now available to all our customers. Your app should be updated.
” To make it easier for you to enter this universe, we have decided to offer the first and largest cryptocurrencies available: bitcoin and Ethereum.” the bank said.
Nubank clarified further:
For this launch, Nubank has a partnership with Paxos, an exchange specializing in cryptocurrencies.
The crypto trading option was announced in May. It was first launched in Brazil.
Nubank announced that Nu Holdings (its parent company) has given “1%” of its balance sheet cash for bitcoin .”
Warren Buffett’s Berkshire Hathaway shares Nu Holdings. According to its 13F filing with the U.S. Securities and Exchange Commission (SEC), Berkshire’s holdings as of Dec. 31, 2021, included Nu Holdings shares worth more than $1 billion. Berkshire Hathaway also invested $500 million in Nu Holdings in June last year, months before the company went public.
Buffett recently stated that he would not invest in cryptocurrency because they don’t produce anything. Charlie Munger, Berkshire Vice Chairman, believes crypto is “stupid .”
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What do you think about Warren Buffett-backed Nubank offering crypto to all customers? Please let us know your thoughts in the comments below.
Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.
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