Nubank, a digital bank in Brazil, has announced a new milestone in its operations. The company announced that it has reached 70 million customers in Latam, making it one of the largest financial institutions in Brazil. The company also announced that nearly 2 million of its customers are digital currency investors. Due to the unique conditions, Latamo has become a suitable field for companies that provide alternative financial services based on digital currency. Nubank, a digital new bank in Brazil, has just announced that it serves 70 million customers, an important milestone in the region. As expected, most of these customers are located in Brazil. However, Neobank was able to expand into other markets such as Mexico with 3.2 million customers and Colombia with 400,000 customers.
The company’s fastest-growing products include investment options and planning, with more than 1.7 million users registered as investors. Another area of growth for Nubank is its cryptocurrency division, which allows customers to buy, hold and sell digital assets from a single app. According to a press release, more than 1.8 million customers have already purchased at least one digital currency through the Nubank program. On the development and services of the company, CEO and founder of Nubang, David Waltz said:
We work with constant pursuit of our rapid growth rates, which increases expansion, new products and revenue for the customer. Nubang is a plan for the coming decades, and we have decided to release all of some problems in financial services in Brazil, Mexico and Colombia. In June, the company opened its cryptocurrency trading service to more than 54 million customers in Brazil, and also holds bitcoins as part of its balance sheet. This announcement led many companies in Brazil to follow the path of Nubank and enter the market of digital currency services. One of the company’s biggest competitors is Mercado Libre, an e-commerce retailer that started offering crypto services last year and recently launched its own cryptocurrency Mercadocoin.