NU Bank enters the crypto market with NUcoin

Nubank is going to launch a token for its consumers in Brazil.

NUbank

Nubank, the Brazilian digital banking startup, will launch its own token/cryptocurrency in Brazil throughout 2023, although it will also be launched in Mexico, according to a Coindesk report.

Nubank comments that around 2,000 consumers will be invited to form part of a closed group that will serve as a dialogue channel between users and the company to “think” about the dynamics behind the token.

How will it work?

In addition, Nubank also details that from 2023, all consumers will receive Nucoins without any price, at the beginning it will work as a digital currency for rewards, it is also considered that from time to time the tokens can be traded in the market of the cryptocurrencies.

In addition, Paxos also has a partnership with Mercado Pago in Brazil to be able to trade, sell and hold cryptocurrencies in their accounts, in addition to stablecoins.

Nubank had also partnered with Paxos just in May to market and sell bitcoin and ether from its application, because the company would act as a service for the protection and business of cryptocurrencies.