Nubank Adds Four New Altcoins to Crypto Portfolio
2min read Nubank, a prominent Latin American financial institution backed by Warren Buffett’s Berkshire Hathaway, has broadened its cryptocurrency offerings by introducing four new altcoins to its platform. The bank has added Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) to its portfolio, making these coins available to its 100 million clients in Brazil. This expansion brings the total number of cryptocurrencies offered by Nubank Cripto to 20, allowing customers to buy, sell, and swap a diverse range of digital assets, including Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC (USDC), and XRP (XRP).
Nubank’s strategic move to include these new altcoins aligns with its growing presence in the digital asset space. The bank has been actively investing in cryptocurrencies since 2022, when it allocated 1% of its net assets to Bitcoin and began offering crypto services. This initiative was further bolstered by the company’s plans to launch loyalty tokens on the Polygon blockchain in October 2022, although this service was later discontinued in 2024. The addition of these new coins underscores Nubank’s commitment to providing its customers with a comprehensive suite of digital asset options, reflecting the bank’s forward-thinking approach to financial innovation.
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Warren Buffett’s Berkshire Hathaway has been a significant investor in Nubank, contributing to its growth and expansion. In 2021, Berkshire Hathaway invested $500 million in Nubank’s Series G funding round, followed by an additional $1 billion investment. From 2022 to 2024, Berkshire Hathaway increased its ownership stake in Nubank from 0.1% to 0.4%, demonstrating its confidence in the bank’s potential and strategic direction. This backing has enabled Nubank to grow its revenue from $245 million in the first quarter of 2021 to nearly $3 billion at the end of 2024, highlighting the bank’s rapid expansion and financial success.
Nubank’s entry into the cryptocurrency market comes at a time when Brazil’s digital asset landscape is experiencing significant growth. Brazil, the largest economy in Latin America, has seen a surge in cryptocurrency transactions, with stablecoins accounting for 90% of all crypto transactions. This trend is driven by the country’s increasing adoption of digital currencies and the growing interest in blockchain technology. The Brazilian government is also considering legislation that would allow salary payments in Bitcoin, further integrating cryptocurrencies into the country’s financial ecosystem. This regulatory environment, coupled with the entry of major players like Binance and Revolut into the Brazilian market, positions Nubank as a key player in the region’s digital asset landscape.
As Nubank continues to expand its cryptocurrency offerings, it faces competition from other financial institutions and crypto exchanges. However, the bank’s strategic investments and partnerships, along with its commitment to innovation, position it well to capitalize on the growing demand for digital assets in Latin America. By offering a diverse range of cryptocurrencies and providing customers with the tools to manage their digital assets, Nubank is poised to play a pivotal role in shaping the future of finance in the region. 
