It seems like players in the crypto world are not fazed by the current crypto bear market whatsoever, as the company's initiative reached a massive number of users in such a short period of time.
Nubank, a Brazil-based financial technology bank founded back in 2013, has recently announced that it scored 1 million users on its trading platform that allows users to purchase and sell Bitcoin (BTC) and Ethereum (ETH).
According to the official announcement, the firm reached such a significant number of users only a month after it launched the crypto-based initiative. It seems as though the largest bank in Brazil exceeded its expectations as it anticipated reaching 1 million users within a year, as stated by some sources.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is a Bitcoin & How Does it work? (Animated Explainer)
The news arrives a few months after Nubank announced that it would be allowing its customers to buy and sell cryptocurrencies, as it also allocated roughly 1% of its income on the balance sheet to Bitcoin (BTC).
Thomaz Fortes, Nubank's crypto area leader, recently mentioned that the company has been working hard on driving crypto adoption and encouraging people to take their first steps into such an innovative world.
In fact, Nubank isn’t the only banking company to explore the crypto ecosystem, as earlier this year, the digital wallet PicPay stated that it would be rolling out a crypto exchange and its own native stablecoin BRC.
On another note, earlier this week, David Velez, CEO of Nubank, stated that Nubank is also planning to enter the tokenization market in the upcoming future.
