Nubank, the Latin American financial powerhouse backed by Warren Buffett‘s Berkshire Hathaway, has greatly expanded its cryptocurrency offerings by adding four notable altcoins to its platform. The March 25, 2025 announcement revealed the addition of Cardano, Near Protocol, Cosmos, and Algorand—collectively representing $34.6 billion in market capitalization—bringing Nubank‘s total cryptocurrency options to 20.
Buffett-backed Nubank boldly embraces crypto, adding four major altcoins worth $34.6 billion to its growing digital asset arsenal.
This expansion comes with a dash of irony. Warren Buffett, whose Berkshire Hathaway invested $500 million in Nubank’s 2021 Series G funding round (followed by an additional $1 billion), once famously described cryptocurrency as “rat poison squared.” Yet Berkshire has gradually increased its stake in Nubank from 0.1% to 0.4% between 2022 and 2024, creating an unexpected bridge between traditional finance’s most famous skeptic and the crypto world.
Nubank’s crypto journey began modestly in 2022, initially offering just Bitcoin, Ethereum, and Polygon before expanding to include Uniswap and Chainlink. The company even allocated 1% of its net assets to Bitcoin that same year—a bold move for a financial institution with traditional backing. The platform leverages smart contracts to automate various financial services without relying on intermediaries, aligning with DeFi principles.
The results speak volumes. Nubank’s revenue skyrocketed from $245 million in Q1 2021 to nearly $3 billion by late 2024, with year-on-year growth approaching 34%. The massive 1124% quarterly revenue increase over less than four years demonstrates the company’s extraordinary growth trajectory. The company now serves 100 million customers across Brazil, making it a juggernaut in Latin America’s financial landscape.
Brazil’s crypto environment proves fertile ground for Nubank’s expansion. As the region’s largest economy, Brazil sees stablecoins dominating 90% of crypto transactions, while the government contemplates legislation allowing Bitcoin salary payments. The company faces increasing competition as major players like Binance and Revolut enter the Brazilian market.
Nubank’s strategic partnerships further cement its crypto credentials. A June 2024 collaboration with Lightspark integrated the Bitcoin Lightning Network, considerably enhancing transaction speeds. Despite discontinuing its loyalty token initiative on Polygon’s blockchain, Nubank clearly favors expanding established cryptocurrency offerings over developing proprietary tokens.
This expansion reflects the growing mainstream acceptance of cryptocurrencies, with Buffett’s indirect involvement lending surprising credibility to the once-maligned digital asset class.
