Nubank – crypto, especially Bitcoin, a specific crypto bank has received an investment amount of US$ 500 Million from the company namely Berkshire Hathaway which is headed by the famous Warren Buffett himself. Nubank said that the bank will provide an investment platform for Bitcoin once it is able to acquire a crypto brokerage known as “Easynvest”.
Berkshire Hathaway is a company that was established in the South American region and is run by the famous Warren Buffett as its CEO. Reportedly, the South American company has invested a sum of US$ 500 Million in a digital currency-oriented bank namely Nubank. The receiving of payment of US$ 500 Million from Berkshire Hathaway was announced and confirmed by Nubank itself.
The bank told that the amount has been received against the campaign which Nubank had initiated in the month of January 2021. The campaign was called “Series G” which is still undergoing its first round of fundraising. Apart from Berkshire Hathaway’s investment, Nubank told that it has raised funds amounting to US$ 250 million from several investors.
Nubank came into being in 2013 and since then it has acquired more than 40 million customers national and international customers. The bank is also considered the world’s biggest bank as it has customers more than any other bank in the world. It is also the top crypto bank in the world in terms of receiving a high amount of funding for crypto investment purposes. Nubank also holds the title of being Latin America’s biggest and leading financial institution.
As per the latest valuation of Nubank, Reuters described that with new funding coming in, Nubank can be evaluated at US$ 30 Billion. However, Nubank is still falling behind Banco Santander, which is the third-largest bank of Brazil by valuation.
As regards future plans of Nubank, the bank is desirous of getting it registered in the stock markets of the US. The bank wanted to register a year ago, however, because of the Covid, the plan was postponed. Now the bank is willing to implement the plan before the end of 2021.
Nubank also told that it will very soon provide its customers the facility of investing in Bitcoin. However, it is in the process of acquiring a crypto brokerage firm in Brazil namely Easynvest. When this firm will be acquired, the bank will be able to provide Bitcoin investment opportunities to its customers. In fact, the authorization has been obtained by Nubank from the Central Bank of Brazil which has consented to the acquisition.
As regards the funds collected by Nubank, the bank was of the view that the same shall be utilized towards its expansion. The bank is desirous of opening branch offices in the regions of Colombia and Mexico.