Warren Buffett-Backed Nubank Expands Crypto Portfolio with Four New Altcoins
Latin American digital banking giant Nubank, backed by Warren Buffett’s Berkshire Hathaway, has expanded its cryptocurrency offerings by adding four new altcoins to its platform. The bank announced on March 25 that Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) are now available to its 100 million clients in Brazil, according to a report by The Paypers. The four assets collectively represent a market capitalization of approximately $34.6 billion.
Nubank Cripto Expands to 20 Digital Assets with Latest Altcoin Additions
The recent addition brings the total number of digital assets available on Nubank Cripto to 20. Existing offerings include major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and stablecoin USDC. The expansion marks another significant step in Nubank’s growing involvement in the crypto sector, which began in 2022. Nubank’s revenue has also reflected its aggressive growth, rising from $245 million in early 2021 to nearly $3 billion by the end of 2024, according to data from Statista. Warren Buffett’s Berkshire Hathaway has shown continued confidence in the fintech firm, initially investing $500 million in its 2021 Series G round and later adding another $1 billion. By 2024, Berkshire had increased its stake in the company from 0.1% to 0.4%.
Since entering the digital asset space, Nubank has made several strategic moves. In 2022, it allocated 1% of its net assets to Bitcoin and announced a loyalty token initiative on the Polygon blockchain, which was eventually discontinued in 2024. Brazil, the largest economy in Latin America with an estimated GDP of $5.4 trillion, has seen rapid growth in its crypto market. Stablecoins now account for 90% of all crypto transactions in the country. In January 2025, Binance became the first exchange to obtain a broker-dealer license in Brazil, while fintech firms like Revolut have also entered the market. Brazil led Latin America in crypto trading volume in 2024, with $6 billion traded. The government is now exploring legislation that would allow salary payments in Bitcoin.
Latin America’s Crypto Adoption Up 12% in 2024
As reported, cryptocurrency adoption in Latin America is on the rise, with more investors diversifying their portfolios, according to the latest Crypto Landscape in Latin America report from Bitso. The study revealed that in 2024, the number of Bitso’s Latin American clients grew by 12%, reflecting a broader shift toward digital asset investment. Notably, 38% of users now hold at least three different cryptocurrencies, indicating a preference for more sophisticated investment strategies. In Argentina, where inflation has exceeded 100%, stablecoins have become a crucial hedge against economic uncertainty. With relaxed capital controls, adoption surged, driving an 11% increase in Bitso’s user base to 1.6 million. Brazil also saw steady growth, thanks to regulatory clarity and a booming tech ecosystem. The country’s crypto user base expanded by 6% to 1.9 million, with stablecoins making up 26% of purchases—a reflection of concerns over real depreciation and the rise of decentralized finance (DeFi).
