Warren Buffett’s Berkshire Hathaway-backed financial institution, Nubank, recently announced the expansion of its cryptocurrency services to include four more altcoins. The Latin America-centric bank has incorporated Cardano (ADA), Near Protocol (NEAR), Cosmos (ATOM), and Algorand (ALGO) into its crypto portfolio as per a statement issued on March 25. These four cryptocurrencies have a combined market cap of approximately $34.6 billion at the time of the announcement.
Nubank’s revenues have seen a significant increase, skyrocketing from $245 million in Q1 2021 to almost $3 billion by the end of 2024, as per Statista. With the addition of these four coins, Nubank Cripto’s total coin offerings rise to 20. As of now, the platform permits its 100 million Brazilian clients to purchase, sell, and trade Bitcoin (BTC), Ether (ETH), Solana (SOL), USDC (USDC), and XRP (XRP).
Berkshire Hathaway, led by Warren Buffett, has made several investments in Nubank. A notable investment was the $500 million in Nubank’s Series G funding round in 2021, followed up by an additional $1 billion. Between 2022 and 2024, Berkshire Hathaway elevated its stake in Nubank from 0.1% to 0.4%.
Nubank initiated its journey into the world of cryptocurrencies in 2022, dedicating 1% of net assets to BTC and introducing crypto services. Later in October 2022, it unveiled plans to launch its loyalty tokens on the Polygon blockchain, a service which was discontinued in 2024.
As the largest economy in Latin America, Brazil’s crypto market has seen tremendous growth, with stablecoins making up 90% of total crypto transactions. In 2024, Brazil led Latin America’s crypto trading volume with $6 billion traded. As of 2025, Binance became the first crypto exchange to receive a broker-dealer license to operate in Brazil, and UK fintech Revolut has also made its entry into the market. Currently, Brazilian lawmakers are deliberating the legalization of salary payments in Bitcoin.
