Nubank (NYSE: NU) announces the expansion of the cryptocurrency price alert service available on Nubank Cripto, the crypto trading platform on the Nubank app.
Throughout August, all of the company’s 92 million customers in Brazil “will have access to the feature.”
Through the new tool, users can “activate alert notifications based on three price variations, either up or down: 3%, 6%, or 9% — always within a 24-hour period — for a total of 14 cryptocurrencies currently available for trading on Nubank Cripto.”
This feature is available within the Automation section “in crypto, which also includes the possibility of scheduled buying.”
In the proposed experience, Nubank removes common layers of complexity in “creating price alerts, such as searching for the digital asset and manually setting up values and frequencies.”
On Nubank Cripto, defining multiple alerts for the available cryptocurrencies is “done in just a few clicks, with the possibility of receiving notifications via push directly in the app.”
By tapping on the notification, customers will “be redirected to the cryptocurrency detail screen, where they can get more information about the variation and make the best decision about buying or selling the digital asset.”
Users can opt out of the service at any time, “ensuring full control over their notification preferences.”
The Nubank Cripto platform saw a 1,500% growth in transaction volume “over a one-year period, from March 2023 to March 2024.”
During this period, there was a 56% increase in “the number of customers who used the experience at least once, surpassing the 4.2 million user mark.”
They can now also send and receive crypto assets “directly from other wallets they own.”
The solution, still being gradually rolled out “to the customer base, currently allows the movement of Bitcoin, Ethereum, and Solana, with the prospect of adding more cryptocurrencies over time.”
The evolution of Nubank Cripto also “includes advancements in greater operational efficiency – aimed at reducing costs for the end customer – through integration with Talos, a global leader in digital asset trading technology.”
Through this partnership, there is smart routing to “select liquidity providers, optimizing the execution of cryptocurrency buy and sell orders in Brazilian reais (BRL).”
In 2023, the cryptocurrency transaction platform “implemented new measures to make the user experience even more secure.”
Through the adoption of Fireblocks’ software for “managing digital asset operations on the blockchain – widely recognized and adopted by major crypto asset custodians around the world – Nubank developed its proprietary custody solution for Nubank Cripto customers’ crypto assets.”
This initiative ensures adherence “to the most rigorous governance practices in the industry.”
Talos also integrates with Fireblocks, “ensuring an efficient and automated flow of buy and sell orders.”
