Berkshire Hathaway-Backed Nubank Expands Cryptocurrency Offerings

March 26, 2025
By Matthew Sell
Banking, Blockchain, Cryptocurrency

In a significant move for the cryptocurrency market, Nubank, the largest neobank in Latin America and a subsidiary of Warren Buffet’s Berkshire Hathaway, has announced an expansion of its cryptocurrency offerings. The platform will now include access to four new cryptocurrencies: Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO). This addition brings the total number of cryptocurrencies available on Nubank to twenty, solidifying its position as a key player in the digital asset space.

Expansion of Cryptocurrency Offerings

The decision to expand its crypto portfolio reflects Nubank’s commitment to enhancing user experience and increasing access to digital currencies. The new listings encompass several Layer-1 blockchains, each known for distinct features and functionalities.

• Cardano (ADA) is recognized for its emphasis on sustainability and high throughput.
• Near Protocol (NEAR) focuses on user-friendly applications with a commitment to community governance.
• Cosmos (ATOM) strives to develop an ecosystem of interconnected blockchains, enhancing interoperability.
• Algorand (ALGO) aims at enabling speed and security in transactions.

This diversification is indicative of Nubank’s strategy to meet the evolving demands of its growing customer base, which currently exceeds 90 million users.

Nubank’s Market Presence

Established in Brazil, Nubank has rapidly transformed into the largest digital bank in South America, reporting remarkable revenues of approximately $8 billion (AU$12.7 billion) in 2023. Such figures underscore Nubank’s robust position as the foremost revenue earner among neobanks globally. The backing from Berkshire Hathaway, which has invested a total of $1.5 billion (AU$2.4 billion) since 2021, further affirms investor confidence in Nubank’s growth trajectory and potential in cryptocurrency adoption.

The Role of Neobanks in Financial Accessibility

Neobanks have gained traction for their accessibility and efficiency. Users can manage their banking needs entirely via mobile applications, negating the requirement for traditional banking infrastructure. This model is particularly significant in regions where access to traditional banks has been limited, providing financial solutions to unbanked individuals while simultaneously attracting existing bank customers with enhanced services.

The neobank market is on a projected growth path, expected to surge from $210.16 billion (AU$333.74 billion) in 2025 to an impressive $3.4 trillion (AU$5.39 trillion) by 2032, highlighting a compound annual growth rate (CAGR) of 48.9% during this period, according to data from Fortune Business Insights.

Cryptocurrency Adoption in Latin America

While late to the global cryptocurrency scene, Latin America is witnessing a grassroots adoption of digital currencies, with countries like Brazil, Argentina, and Mexico leading the way. In this context, cryptocurrencies are increasingly viewed as vital alternatives to the devaluation of local fiat currencies.

Interestingly, regionally centralized exchanges are more prevalent than decentralized platforms, attracting users who seek reliability and security within the rapidly evolving digital asset market.

Conclusion

With this latest expansion of cryptocurrency offerings, Nubank is poised to enhance its competitive edge in the financial technology sector while contributing to the growing momentum of crypto adoption in Latin America. As the company continues to innovate and adapt to the shifting landscape of finance, its focus on providing users with diverse cryptocurrency options is likely to shape future trends in the neobanking industry.

This news article has been crafted to provide a comprehensive overview of Nubank’s latest developments in the cryptocurrency space. For any further details or inquiries, please refer to our contact section.

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