December 6, 2022

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Nubank Confirms He Will Join Cryptocurrency

Nubank Confirms He Will Join Cryptocurrency

Founding Partner of nubankDavid Velez, in a recent interview with Valor, talked about Cryptocurrency And blockchain technology, which has great potential to expand the financial inclusion of individuals, particularly in the context of international transactions.

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According to Velez, the reason for the digital bank’s decision to allocate 1% of the company’s funds to this investment class is only one reason: Cryptocurrency They can act as real “subversive” phenomena of the global financial system. “It is something we want to invest in and focus on in the coming years,” the executive said.

Nubank Cryptocurrency Investing

Since May 11, Nubank has been offering customers the option to invest in cryptocurrency via the app. According to Velez, investing part of the organization’s monetary funds is a way to ensure better compatibility with bank account holders.

On the other hand, the banker explained that the technology is, in fact, quite new, which can still generate risk. That is why only 1% of the bank’s assets are channeled and distributed little by little and in a progressive manner.

To ensure proper functioning of this part, the bank has several teams working on projects related to cryptocurrency and blockchain. Currently, the institution only trades Bitcoin And the Ethereum.

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When asked about the process of regulating cryptocurrency, Feliz mentioned that there are two biases: the good and the bad. The good part is that the original is recognised, and is no longer part of the ‘off-market’. The downside is that if there is a lot of regulatory pressure on electronic money, the innovation side may be compromised.

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Currently, Bill (PL) 3.825 / 2019 is being processed in the country, which seeks to regulate the cryptocurrency market in the national territory. According to financial experts, this decision can facilitate the work of intermediaries to attract more and more investors, in addition to direct work in the fight against crime and fraud.