Nubank Expands Crypto Offerings by Adding Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) to Its Portfolio

Nubank, a Latin American financial bank backed by Warren Buffett's Berkshire Hathaway, has expanded its crypto offerings by adding four altcoins to its portfolio.

Latin American neobank Nubank, a company backed by Warren Buffett’s (THS:WFT) Berkshire Hathaway (NYSE:BRKb4) and which is preparing for a U.S. listing, is adding four more altcoins to its portfolio.

The bank, which has 100 million customers in Brazil, will be adding Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO), according to a March 25 announcement. The four coins had a combined market capitalization of $34.6 billion at time of writing.

The addition of the four coins will bring Nubank Cripto’s total coin offering to 20. Currently, the platform’s customers can buy, sell and swap Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC (USDC), and XRP (XRP).

Berkshire disclosed an investment in Nubank in 2021, as part of the Series G funding round. At the time, the investment was reported to be $500 million, and it was later followed by an additional $1 billion from Berkshire, according to a later filing.

Buffett’s company increased its ownership stake in Nubank to 0.4% from 0.1% in 2024, according to the company’s latest 13F reports. The investment firm also disclosed a new position in cryptocurrency firm Coinbase (NASDAQ:COIN) in 2024.

Earlier this year, a report from iCompare stated that Nubank’s revenue grew to nearly $3 billion at the end of 2024 from $245 million in the first quarter of 2021.

The rapid growth of Nubank’s revenue can be attributed to several factors, including the expansion of its product and service offerings, the growth of the financial services market in Latin America, and Nubank’s successful strategy for acquiring new customers.

As of the first quarter of 2021, Nubank had 60 million customers across Brazil, Mexico, and Colombia. By the end of 2024, that number is said to have increased to 100 million.

As one of the largest financial institutions in Latin America, Nubank is a major player in the region’s rapidly growing fintech sector. The bank is known for its innovative products and services, such as its mobile-only banking platform and its prepaid debit card.

Berkshire’s investment in Nubank is part of the company’s broader interest in the financial services sector. Berkshire is also a major investor in several other financial institutions, such as Bank of America (NYSE:BAC) and Moody’s (NYSE:MCO).

Berkshire’s investment in Nubank was first reported by the Wall Street Journal.