- Crypto rewards: the powerful neobank Nubank offers its users in Brazil an innovative way to earn rewards
- In 2024, the amount of USDC held by the neobank’s users increased tenfold.
The digital bank Nubank has expanded its cryptocurrency rewards program, allowing all users in Brazil with USDC balance to earn daily returns.
This initiative aims to encourage the use of digital dollars within its platform and strengthen its crypto financial ecosystem.
An accessible benefit
As announced by the financial institution, any Nubank Crypto user who holds a minimum balance of 10 USDC in their wallet will be able to access an annual return of 4%, with daily payments and immediate availability of the funds. To activate this feature, customers simply need to select the “I Want to Participate” option within the app, with no lock-in period or additional costs.
This program follows a trial period conducted in 2024, where a small group of clients experimented with variable interest rates. Due to the positive response, Nubank decided to expand the offer to its entire user base in Brazil, solidifying its commitment to the adoption of stable cryptocurrencies.
Nubank has formed a strategic partnership with Circle since 2023, through which these crypto asset integrations were designed and implemented.
USDC: A Backed and stable stablecoin
USDC is a stablecoin pegged to the US dollar, designed to provide stability within the crypto market. As we explained in a recent report on Frecuencia Money, it is an asset that leads the growth of stablecoins.
Its backing by highly liquid assets and the ability to be publicly audited make it a reliable option for those seeking security in their digital investments.
Interest in this cryptocurrency has grown significantly. In 2024, the amount of USDC held by its users increased tenfold, and currently, about 30% of Nubank Crypto customers own this asset. Additionally, more than 50% of new users choose it as their first digital currency.
The Nubank Crypto platform, which also stands out for its educational content on crypto assets, provides educational material to help users make informed decisions.
New features in the app
In addition to USDC rewards, Nubank has implemented a cryptocurrency exchange feature in its app, allowing users to convert Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Uniswap (UNI) to USDC, with reduced fees. Price alerts can also be set to monitor variations in the value of different digital assets.
For USDC, customers can receive notifications when the exchange rate with the Brazilian real fluctuates within a range of 0.5% to 2%, while for other cryptocurrencies, alerts are triggered by fluctuations of 3% to 9%.
This move also responds to a commercial strategy by Nubank to strengthen its presence in the crypto ecosystem, increasing transaction volume and expanding its base of active users. As more customers adopt USDC within the platform, the digital bank could benefit from an increase in operations and associated fees.
In short, Nubank’s USDC rewards program represents a new option for those looking for passive income with immediate liquidity in the crypto space. However, as with any investment, it is essential to assess its advantages and risks before participating
