Digital Bank Revolut Now Offering Crypto Investments in Brazil
:format(jpg)/www.coindesk.com/resizer/Wsw21Z13uYNeMwlEy09fcHX_LHw=/arc-photo-coindesk/arc2-prod/public/Z2G3HHMTVJGWRAQIH4UHCT3FEY.jpg)
Jamie Crawley is a CoinDesk news reporter based in London.
Digital bank Revolut, which already offers crypto investments across Europe, is now open for business in Brazil.
Revolut is making its first foray into Latin America, attempting to tap into Brazil’s growing demand for crypto assets, the bank said in an emailed announcement on Tuesday.
Crypto users in Brazil number some 10 million, according to Revolut’s announcement.
“Our mission is to unlock a borderless economy with financial products that are accessible and easy to use and that allow our customers to use their money efficiently,” CEO Nik Stronsky said. “We will start with the global account and crypto investments, but this is just the beginning.”
Revolut has around 29 million customers worldwide and is looking to carve out a share in Latin America’s most populous country, where digital bank Nubank is entrenches as the market leader with around 70 million customers. Nubank introduced crypto trading last June, hitting 1 million users only a month later.
Edited by Parikshit Mishra.
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
:format(jpg)/www.coindesk.com/resizer/Wsw21Z13uYNeMwlEy09fcHX_LHw=/arc-photo-coindesk/arc2-prod/public/Z2G3HHMTVJGWRAQIH4UHCT3FEY.jpg)
Jamie Crawley is a CoinDesk news reporter based in London.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
:format(jpg)/www.coindesk.com/resizer/Wsw21Z13uYNeMwlEy09fcHX_LHw=/arc-photo-coindesk/arc2-prod/public/Z2G3HHMTVJGWRAQIH4UHCT3FEY.jpg)
Jamie Crawley is a CoinDesk news reporter based in London.