February 7, 2023

The trading and custody service is being provided by blockchain infrastructure company Paxos.

Source: Coindesk.com
Source: Coindesk.com

Nubank, the largest Brazilian digital bank by market value, is adding the option for customers to buy and sell bitcoin (BTC) and ether (ETH) on its platform, the company announced Wednesday.

The crypto trading and custody service will be provided by Paxos’ blockchain infrastructure, Paxos told CoinDesk.

The product will gradually be made available to Nubank users in Brazil on Thursday, Paxos said, adding that it will reach all of its customers by the end of July.

According to Paxos, users will be able to buy and sell crypto with Brazilian reals, but initially won’t be able to withdraw or deposit crypto.

Until now, Nubank allowed users to invest in crypto only through exchange-traded funds available through its investment unit, NuInvest, according to the company’s website.