Nubank Expands Stablecoin USDC Rewards Program to All Digital Assets Users in Brazil

Brazil’s digital banking platform Nubank (NYSE: NU) is reportedly expanding the feature that rewards holders of the digital dollar USDC to all users of Nubank Cripto in Brazil.

As noted by Nubank, this latest expansion allows daily returns on a minimum balance of “10 USDC in their wallets at a fixed rate of 4% per year.”

The decision came after a pilot program that had tested “variable rates with a small group of users throughout the past year.”

In order to start receiving rewards, customers must access their crypto wallet in the Nubank app and click on “I Want to Participate.”

The feature can be “deactivated or reactivated whenever the user wishes.”

Returns are credited automatically “every day, and liquidity is immediate.”

As explained in a blog post by Nubank, USDC is a stablecoin backed by the US dollar, supported by “highly liquid assets, and can be redeemed at a 1:1 ratio for US dollars.”

The reserves are said to be “publicly verifiable.”

This feature makes this digital currency less “volatile compared to other cryptocurrencies.”

In 2024, the amount of USDC held by digital bank Nubank customers has increased “tenfold and now around 30% of them have this asset in their portfolios.”

More than 50% of new Nubank Cripto users reportedly chose stablecoin USDC “as their first digital asset.”

In November of last year, digital bank Nubank had launched a crypto swap tool in the app.

As explained in the update from Nubank, this feature allows “transactions of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for USDC (and vice versa) with reduced fees.”

Customers can also set cryptocurrency price alerts, “including BTC, ETH, SOL, and UNI.”

For stablecoin USDC, exchange rate fluctuations between the US dollar and the Brazilian Real of “0.5%, 1.5%, and 2% can be monitored, while for other cryptocurrencies, alerts are triggered with variations of 3%, 6%, or 9%.”



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