Nubank, a Latin American financial bank backed by Warren Buffett’s Berkshire Hathaway, has expanded its crypto offerings by adding four altcoins to its portfolio.
The bank is adding Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) to its 100 million clients in Brazil, according to a March 25 announcement. The four coins had a combined market capitalization of $34.6 billion at time of writing.
Nubank’s revenue grew to nearly $3 billion at the end of 2024 from $245 million in the first quarter of 2021, Statista data show.
The four additional coins will bring Nubank Cripto’s total coin offerings to 20. Currently, the platform’s customers can buy, sell and swap Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC (USDC), and XRP (XRP).
Warren Buffett’s Berkshire Hathaway has invested in Nubank multiple times. In 2021, Berkshire Hathaway invested $500 million in Nubank’s Series G funding round, an amount later followed by an additional $1 billion. From 2022 to 2024, Buffett’s company increased its ownership stake in Nubank to 0.4% from 0.1%.
Nubank’s crypto push faces competition
Nubank has been diving into digital assets since 2022, when it announced the allocation of 1% of net assets to BTC and started offering crypto services. In October 2022, the company revealed plans to launch its loyalty tokens on the Polygon blockchain. It discontinued the servicein 2024.
Brazil is the largest economy in Latin America, with a gross domestic product (GDP) of approximately $5.4 trillion in 2024, World Economics estimates.
The country’s cryptocurrency market has experienced significant growth over the past few years, with stablecoins accounting for 90% of all crypto transactions.
In January 2025, Binance became the first crypto exchange to secure a broker-dealer license to operate in Brazil. UK fintech Revolut has also entered the country’s crypto market.
In 2024, Brazil led crypto trading volume in Latin America with $6 billion traded. The country’s lawmakers are currently considering allowing salary payments in Bitcoin.
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