CMC News

#Nubank Plans #Stablecoin Credit Card Integration

Nubank vice-chairman Roberto Campos Neto announced plans to integrate dollar-pegged stablecoins with credit card payment systems during the Meridian 2025 event. Latin America's largest digital bank will test stablecoin payments as part of broader blockchain technology adoption.

The former Brazil central bank governor emphasized the importance of connecting digital assets with traditional banking infrastructure. Nubank serves over 100 million customers across Brazil, Mexico, and Colombia, positioning it for significant market impact.

Campos Neto indicated the bank faces challenges accepting deposits in tokenized forms while using these assets for client credit issuance. Testing phases will explore how stablecoins can enhance payment efficiency and customer experience.

The executive noted that consumer behavior shows people primarily purchase cryptocurrencies as a store of value rather than a transaction medium. Understanding this trend remains crucial for developing practical payment solutions.

Nubank entered digital assets in 2022 by allocating 1% of net assets to $BTC and launching crypto trading services. The bank has since expanded its cryptocurrency offerings to serve growing customer demand for digital asset access.

Stablecoin adoption has surged across Latin America, with Brazil's central bank reporting 90% of crypto activity involves stablecoins. Argentina has seen significant growth due to inflation exceeding 100% in recent years.

$USDT and $USDC accounted for 50% and 22%, respectively, of all cryptocurrency purchases in Argentina during 2024. Regional stablecoin adoption reflects growing demand for dollar-denominated digital assets amid economic uncertainty.