Brazil’s prominent neobank Nubank has broadened its cryptocurrency services by introducing support for ADA, NEAR, ATOM, and ALGO.
Nubank, with a customer base exceeding 85 million, is enhancing its cryptocurrency offerings by adding four new tokens to its platform, Nubank Cripto. Clients will now have access to Cardano (ADA), NEAR Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO).
This latest development brings Nubank’s cryptocurrency portfolio to a total of 20 assets, which includes Bitcoin (BTC), Ethereum (ETH), and the USD Coin (USDC) stablecoin, among others. Thomaz Fortes, who oversees the crypto and virtual assets division, remarked that the bank intends to continue to expand its token selection throughout the year, taking a thoughtful approach to the choices available.
In January, Nubank introduced a fixed 4% annual yield for USDC holders, making this feature accessible to all users of its crypto wallet. To qualify, customers must maintain a minimum balance of 10 USDC in their wallets, with daily credits applied to returns. Users can manage this feature through the Nubank app at their convenience.
Nubank has been striving to broaden its cryptocurrency services, although not without challenges. For example, in September 2024, the bank abruptly halted trading of its Nucoin token, citing concerns about protecting users from market fluctuations. Nucoin was initially launched in late 2022 on the Polygon network as part of a rewards initiative that provided various benefits, including discounts.