Customers of Nubank, a popular fintech company from São Paulo, now have the option to send and receive Bitcoin, Ethereum, and Solana through their app. The company recently launched a new feature that allows users to make withdrawals and deposits of these cryptocurrencies.

The latest update enables Nubank customers to access the withdrawal and deposit functions for Bitcoin, Ethereum, and Solana within the app. Users can easily navigate to the main crypto screen to check out these added features.

The initial release includes support for three cryptocurrencies, but Nubank has plans to incorporate more options in the future. Before making a transaction, users are advised to consider potential fees and transaction times, which can vary depending on the chosen network.

In a translated statement, the bank mentioned, “We have introduced the Withdrawal and Deposit features, and you can confirm the availability of this new functionality on the main crypto screen of the app. Currently, users can send and receive Bitcoin, Ethereum, and Solana, with additional coins coming soon.”

Customers are reminded to ensure that they are sending assets to supported networks and correct addresses to prevent any irreversible loss of funds. Nubank aims to provide a seamless user experience while expanding its services to embrace the growing cryptocurrency landscape in Brazil.

This recent addition by Nubank to facilitate Bitcoin and cryptocurrency transactions aligns with the country’s trend of increasing crypto adoption. As the leading fintech bank in Latin America with a substantial user base, Nubank’s foray into cryptocurrencies reflects a significant shift in mainstream acceptance.

The move by Nubank follows Itau Unibanco, Brazil's largest bank, venturing into the cryptocurrency exchange market in early December 2023. Notably, Brazil stands out as one of the top countries in Latin America for cryptocurrency adoption, ranking among the top 20 in Chainalysis’ Global Crypto Adoption Index. The country is recognized for its strong grassroots adoption of digital currencies.