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Cryptoknowmics 2022-09-27 10:22:54

NuBank Reaches 70 Million Customers In Latin America

NuBank, the most well-known digital bank worldwide, has 70 million customers in Latin America. The company, which Warren Buffett backs, claimed that client growth has continued in all nations where it conducts business, including Brazil, Mexico, and Colombia. NuBank Increased Revenue and Users The company now has 66.4 million more Brazilian consumers than it did a year ago (62.3 million). The corporation has around 3.2 million subscribers in Mexico and 400 thousand in Colombia. Additionally, NuBank has had recent growth in its revenue. The company reported a 75% increase in its active monthly users, which numbered 52 million in the most recent quarter. As its loans and credit cards continued to soar, revenue increased to $1.2 billion. This number is nearly twice as high as the 1 million cryptocurrency users that the digital bank reported in late July and represents users who have made at least one Bitcoin purchase using NuBank’s app. After announcing the intention in May, the company launched crypto trading for all its Brazilian users in late June. The September 26 press release revealed the up-to-date user statistics. The company’s total deposits kept growing and hit a record high of more than $13.3 billion. Its loan and credit card businesses are currently profitable. In a statement, the firm’s CEO said, “Our largest operation – Brazil – is now profitable, having registered a net profit of US$ 13 million in the first half of...

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