Latin America's fintech giant Nubank starts offering services with Cardano, Algorand

Brazilian neobank giant Nubank has expanded its crypto offerings, adding support for ADA, NEAR, ATOM, and ALGO.

Nubank, a Brazilian neobank with over 85 million customers, is expanding its crypto offering with four new tokens, giving clients of its crypto arm, Nubank Cripto, access to Cardano (ADA), NEAR Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO).

With this expansion, Nubank’s crypto portfolio now includes 20 assets, such as Bitcoin (BTC), Ethereum (ETH), and the USD Coin (USDC) stablecoin among others. Thomaz Fortes, executive director of Nubank’s crypto and virtual assets division, commenting on the portfolio expansion said the company plans to continue “expanding our selection of tokens throughout the year, always with a careful analysis of the options.”

Earlier in January, Nubank launched a fixed 4% annual return for USDC holders, making the feature available to all crypto wallet users. To be eligible, customers need to maintain a minimum balance of 10 USDC in their crypto wallets. Returns are credited daily, and users can activate or deactivate the feature through the Nubank app.

Nubank has been working to grow its crypto offerings, though not all efforts have gone smoothly. For instance, in September 2024, the bank suddenly stopped trading its Nucoin token, saying it wanted to protect users from market volatility. The bank launched Nucoin in late 2022 on the Polygon network as part of a rewards program offering perks like discounts.