Latin American Digital bank Nubank (NYSE: NU) has emerged as the largest brokerage in Brazil as it tops 5 million investors.
According to a blog post, Nubank has the largest number of active investors on a digital brokerage in the country.
Nubank facilitated the investing features with the acquisition of Easynvest and the branding of NuInvest over one year ago. The investment services include stocks, ETFs, real estate investment funds, and investments in variable income. Nubank cites B3 that indicates around 1/3 of investors on the Brazilian Stock Exchange hold investments in variable income products offered by Nubank.
Nubank is currently releasing a new vehicle Caixinhas do Nu as a way to save money in an organized and personalized way, according to each person’s goals.
Nubank, or Nu Holdings, traded on the NYSE currently has a market cap of around $20 billion making it one of the biggest Fintech successes in Latam.