Nubank, Brazil’s largest digital bank, is at the center of crypto news making headlines in the Latin America region today.
On Tuesday, Nubank told its customers that they can now withdraw their crypto assets using the bank’s app.
Specifically, the digital bank has added support for deposits and withdrawals for three major cryptocurrencies – Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).
Nubank plans to expand the feature that allows customers to send and receive BTC, ETH and SOL from within their Nubank app to other coins in due course, according to details shared on Tuesday.
Bitcoin Magazine highlighted the news via X.
JUST IN: 🇧🇷 Brazil’s largest digital bank Nubank now allows customers to withdraw their #Bitcoin pic.twitter.com/fNSJ6IoK2W
— Bitcoin Magazine (@BitcoinMagazine) April 23, 2024
Nubank boosts crypto adoption in Latin America
Support for crypto deposits and withdrawals comes a few months after the neobank announced plans to enable these options. The digital bank made the announcement in December last year.
As it bolsters crypto adoption with the new feature, Nubank takes another huge step towards cementing its position as one of the top financial institutions in Latin America.
Recently, a survey report showed the company ranks among the best banks globally and tops Forbes’ list for financial institutions in Brazil and Mexico.
The digital bank’s innovative solutions and crypto milestones set it apart from other providers. Nubank is at the forefront of promoting digital assets adoption across the traditional banking ecosystem.
In 2022, Nubank established itself among the top neobanking platforms supporting crypto adoption when it rolled out trading support for Bitcoin and Ethereum.
The crypto bank collaborated with blockchain infrastructure firm Paxos in its venture into digital assets trading and custody services.
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