Nubank, a Latin American financial institution supported by Warren Buffett’s Berkshire Hathaway, is making waves in the cryptocurrency market by adding four altcoins to its growing portfolio. This significant development was announced in March 2025, marking a pivotal moment for the bank and its 100 million clients in Brazil.
The newly added cryptocurrencies include Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO). At the time of the announcement, these four coins had a collective market capitalization of approximately $34.6 billion, further establishing Nubank’s competitive position within the digital asset realm.
Nubank’s financial performance has been impressive, with revenue soaring from $245 million in the first quarter of 2021 to nearly $3 billion by the end of 2024, according to Statista data. The inclusion of these altcoins will boost Nubank Cripto’s total offerings to 20, which already features major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Solana (SOL).
Warren Buffett’s Berkshire Hathaway has shown a strong interest in Nubank, investing $500 million in the bank’s Series G funding round in 2021, followed by an additional $1 billion investment. As of 2024, Buffett’s firm has increased its ownership stake in Nubank from 0.1% to 0.4%, demonstrating confidence in the bank’s direction.
Nubank’s Crypto Journey and Competitive Landscape
Nubank has been actively engaging with digital assets since 2022, initially allocating 1% of its net assets to Bitcoin, coupled with plans to launch loyalty tokens on the Polygon blockchain. However, the bank recently discontinued its token trading services, emphasizing the dynamic nature of the cryptocurrency landscape.
As Brazil emerges as the largest economy in Latin America with a GDP of approximately $5.4 trillion in 2024, the country’s cryptocurrency market has witnessed remarkable growth. Stablecoins accounted for 90% of all crypto transactions recently, highlighting a robust foundation for future growth.
Binance recently achieved a significant milestone by becoming the first crypto exchange to secure a broker-dealer license in Brazil, setting a precedent for other international players. In 2024, Brazil led Latin America in crypto trading volume with $6 billion traded, showcasing the increasing acceptance and integration of cryptocurrencies in the financial ecosystem.
Legislators in Brazil are currently considering allowing salary payments in Bitcoin, which could further fuel the country’s burgeoning cryptocurrency market and facilitate broader adoption.
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