Digital Neobank Nubank reaches 70 million customers in Latham; About 2 million crypto-bitcoin news exchanges

Nubank, a digital bank based in Brazil, has announced a new chapter in its operations. The company announced that it has reached 70 million customers in Latin America, which is one of the largest financial institutions of its kind in Brazil. The company also announced that almost 2 million customers are cryptocurrency investors.

Nubank reaches 70 million customers; Crypto customers have reached 1.8 million

Latham has become fertile ground for companies offering alternative finance and cryptocurrency-based services due to its unique set of conditions. Nubank has announced that Brazil-based digital Nubank has recently reached its peak in the region and now serves 70 million customers. Most of these customers, as expected, are based in Brazil. However, Neobank has been able to enter other markets such as Mexico, where it has 3.2 million customers, and Colombia, where it has 400,000 customers.

The company’s top-grossing products include Money Box, which offers investment and planning options that have registered more than 1.7 million users as investors. Another driver of Nubank’s growth is its cryptocurrency division, which allows customers to buy, hold and sell digital assets from the same app. According to the press release, more than 1.8 million customers have made at least one cryptocurrency purchase using the NuBank app.

David Velez, CEO and founder of NuBank, said of the company’s growth and services:

Our accelerated growth is driven by the continuous pursuit of excellence, which drives expansion, new products and increased revenue per customer. Nubank is a project for the next decade and we remain steadfast in our mission to free all people from the complexity of financial services in Brazil, Mexico and Colombia.

The crypto market is growing in Brazil

The company opened its cryptocurrency trading services to more than 54 million customers in Brazil in June, and also holds bitcoin as part of its balance sheet. This announcement paves the way for more companies in Brazil to follow Nubank’s footsteps and enter the cryptocurrency services market.

One of the company’s biggest competitors, Mercado Libre, is an e-tailer company that started offering crypto services last year and recently launched its own cryptocurrency, MercadoCoin. Other companies have followed suit, including Ricoh, a financial brokerage platform that aims to offer cryptocurrency services by 2023, and Picpay, a payment platform that plans to launch its own Brazilian real-based stablecoin.

Traditional banks such as Santander have also announced that they will include cryptocurrency in their portfolio of services in the coming months. However, crypto is still not regulated in the country because the national cryptocurrency bill could not be discussed in the Brazilian Congress due to issues related to elections.

Tags in this story

Argentina, Brazil, Cryptocurrency, Digital Neobank, Growth, LATAM, Mercado Libre, Nubank, Picapay, RICO, Santander

What do you think about Nubank’s crypto-powered growth in Brazil? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. In the year He describes himself as late to the game, entering the cryptosphere when the price spike occurred in December 2017. With a background in computer engineering, living in Venezuela and being socially influenced by the cryptocurrency boom, he has a different opinion. About the success of crypto and how it can help the unbanked and underserved.

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DisclaimerThis article is for informational purposes only. It is not an offer or solicitation to buy or sell, or a recommendation or endorsement of any products, services or companies. does not provide investment, tax, legal or accounting advice. Neither the Company nor the Author shall be liable, directly or indirectly, for any damages or losses arising out of the use of or reliance on any content, goods or services referred to in this paragraph.

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