A prominent financial institution in Latin America, backed by Warren Buffett’s Berkshire Hathaway, has enhanced its cryptocurrency offerings by incorporating four new altcoins into its platform.
The institution is introducing Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) for its 100 million clients in Brazil, as disclosed in a March 25 announcement. At the time of writing, the total market capitalization of these four coins stood at $34.6 billion.
The institution’s revenue surged to nearly $3 billion by the end of 2024, up from $245 million in the first quarter of 2021, according to data from Statista showing.
With the addition of these four coins, the total number of cryptocurrencies available on Nubank Cripto will rise to 20. Currently, users of the platform can buy, sell, and trade Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC (USDC), and XRP (XRP).
Berkshire Hathaway has invested in the institution on several occasions, providing $500 million during Nubank’s Series G funding round in 2021, followed by an additional $1 billion. Between 2022 and 2024, Buffett’s company increased its stake in Nubank from 0.1% to 0.4%.
Competition in Nubank’s Crypto Endeavors
Nubank began exploring digital assets in 2022, when it announced that it would allocate 1% of its net assets to Bitcoin and commenced offering cryptocurrency services. In October 2022, the company disclosed plans for launching loyalty tokens on the Polygon blockchain, although this service was discontinued in 2024.
As the largest economy in Latin America, Brazil has a gross domestic product (GDP) of around $5.4 trillion in 2024, according to estimates from World Economics estimating.
The cryptocurrency market in Brazil has seen remarkable expansion in recent years, with stablecoins constituting 90% of all crypto transactions.
In January 2025, Binance became the first cryptocurrency exchange to obtain a broker-dealer license for operations in Brazil, while UK fintech Revolut has also made its entry into the Brazilian crypto sector.
In 2024, Brazil led the region in crypto trading volume, with $6 billion traded. Lawmakers in the country are currently considering legislation to permit salary payments in Bitcoin.
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