Nubank Expands Crypto Offerings in Brazil, Adds Four New Altcoins

On March 25, Nubank, the Latin American financial institution backed by Berkshire Hathaway, announced the addition of Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) to its crypto offerings for its 100 million clients in Brazil. These four coins had a combined market capitalization of $34.6 billion at the time of the announcement. This expansion brings Nubank Cripto's total offerings to 20, including Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC (USDC), and XRP (XRP). Nubank's revenue has grown significantly, reaching nearly $3 billion by the end of 2024. Brazil, with a GDP of approximately $5.4 trillion in 2024, is a key market, with stablecoins accounting for 90% of crypto transactions. Nubank has been involved in digital assets since 2022, allocating 1% of net assets to BTC and offering crypto services.