(Cointelegraph) Brazil’s and Latin America’s largest digital lender Nubank has partnered with Paxos for crypto services offerings.
The bank says it will allocate about 1% of its assets to Bitcoin through the cashier of NU holdings, an entity controlling the Nubank Group. The lender will also offer Bitcoin and Ethereum investment services to its at least 50 million customers.
The digital lender said that the move underlies its conviction of the current and future of Bitcoin in disrupting the financial system.
The bank’s statement confirmed that the purchase of Bitcoin and Ethereum can be made starting from $0.20 or 1 BRL starting May. The bank will implement the crypto investment service fully by the end of June.
Nubank cited the need to expand and improve access to cryptocurrencies as key to entry. The bank seeks to eliminate the existing complexities in accessing and holding digital assets via an app.
The bank said it plans to expand its crypto investment services beyond BTC and ETH in future.
BTCUSD is down -4.71%, ETHUSD is down -9.26%.
