Brazil’s Nubank amasses 1 million crypto customers in less than a month
According to security researchers, Brazilian challenger bank Nubank has hit a milestone of 1 million cryptocurrency customers in Brazil less than a month after launching its crypto offering for the first time in June. The rapidly growing customer base indicates the interest the general public has in cryptocurrency, specifically Bitcoin and Ethereum. These two currencies were offered to its entire base of 60 million users just a month ago.
Hitting 1 million crypto users was reportedly a goal the company set for a year after its launch, however, it was achieved in just one month. Nubank’s goal is to popularize access to crypto-assets, and does so via a mobile app that allows easy access to the cryptocurrencies. As demonstrated by Nubank, cryptocurrency is a growing trend in Latin America and could have a transformational impact on the region. However, the trading experience can be challenging and confusing, which companies like Nubank aim to simplify.