Paxos, Nubank Form Strategic Partnership on Crypto Platform

Announcements, Blockchain, News | May 12, 2022 By:

Regulated blockchain infrastructure platform Paxos has announced a new partnership with Brazil-based Nubank. Nubank has launched a new in-app crypto trading experience using Paxos’ crypto platform.

Paxos will now enable crypto transitions for Nubank’s 52 million customers, giving seamless access to Bitcoin and Ethereum through the Nubank platform. This is Nubank’s first push into the crypto trading market and will be available to the company’s entire customer base by the end of June.

“There is no doubt that crypto is a growing trend in Latin America, one that we have been following closely and believe will have a transformational impact on the region. Yet the trading experience is still very niche as customers either lack information to feel confident to enter this new market or just get frustrated by complex experiences. At Nubank, we aim to empower our customers by putting them in control of their money. Therefore, we built an experience that was simple and intuitive enough to democratize access to this new segment,” said David Vélez, CEO and founder at Nubank.

“We are thrilled to partner with Nubank to deliver its over 50 million customers in Brazil a safe and affordable cryptocurrency trading experience. The Company’s reach and impact across the country’s different segments ensures that even more people will be able to dive into crypto than ever before. Nubank’s move to enter the crypto trading space represents a strategic move not only for the company, but for an acceleration of the crypto currency adoption in the region,” said Charles Cascarilla, Co-Founder & CEO of Paxos.