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Nubank Launches Cryptocurrency Swap Tool in Its App
Nubank customers who hold cryptocurrencies will be able to trade Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for digital dollars USDC and vice versa. The new feature, integrated with Nubank Cripto, simplifies currency transactions through direct exchange.
Also known in the market as “swap”, this option offers reduced fees compared to buying and selling in fiat currency. Nubank customers will gradually have this feature available over the coming weeks. They will access it within the cryptocurrencies section of the app by clicking on the “Trocar” (Swap) button on the home screen. The feature will allow additional token pairs to be exchanged in the coming months.
“Swap is in demand by customers as they start including crypto assets in their strategies. The initial implementation involving USDC and the four most popular cryptos is a way to ensure potential profits from value appreciation without losing market position and with a lower fee compared to selling for value in reais,” says Thomaz Fortes, Executive Director of Cryptocurrencies and Digital Assets at Nubank.
As a stablecoin, USDC is backed by the US dollar, ensuring parity between the USDC unit and the dollar. This feature makes it a safer option for crypto asset holders, with less volatility than other cryptocurrencies, and greater protection against inflation in local markets.
Nubank Cripto customers already have a cryptocurrency price alert tool for buying and selling, including USDC, BTC, ETH, SOL, and UNI. This tool activates alerts based on three price variations, up or down: 3%, 6%, or 9%—always within a 24-hour period.
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