Nubank, a Brazilian neobank, has introduced new features for its cryptocurrency customers. The Sao Paolo-based organization recently enabled deposits and withdrawals of bitcoin, ether, and solana in its cryptocurrency service, broadening the use cases of its platform. Before, the company only allowed users to purchase, hold, and sell cryptocurrency assets.
Nubank Enhances Cryptocurrency Features: Opens Deposits and Withdrawals for Bitcoin, Ether, and Solana
Nubank, a Brazilian fintech institution, is preparing to offer full cryptocurrency wallet services to its users. The company, which had already opened cryptocurrency purchases and sales services for some of its customers, has decided to broaden the functionality of its crypto offering.
According to an announcement made by the bank on April 22, the company opened deposits and withdrawals for bitcoin, ether, and solana for its customers. Nubank reinforced that crypto transfers can take approximately 60 minutes to complete, depending on the status of the chosen blockchain network. Also, it informed that users must always check the destination wallet before completing a transfer, given that crypto transactions are irreversible.
However, the functionality is still not available for all of its customers. Nubank explained:
We are gradually releasing this functionality to ensure a better experience for you, and we ask that you follow updates on the app and here in the community.
It also stated that it plans to add this kind of support for other cryptocurrencies soon.
Nubank launched cryptocurrency trading in May 2022, supporting only bitcoin and ether. However, it has grown and now has 15 different digital assets on its platform, and an in-house issued cryptocurrency, Nucoin. In December, the organization announced a partnership with Circle, the issuer of USDC, a top dollar-pegged stablecoin, to increase the access of Brazilians to digital dollar alternatives.
While the bank has not issued new numbers about the number of its cryptocurrency customers, by September 2022 almost 2 million had already made at least one cryptocurrency purchase using Nubank’s app.
What do you think about Nubank’s full wallet service gradual rollout? Tell us in the comments section below.
Source: Bitcoin
