Nubank upgrades USDC incentives to 4% yearly returns

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Nubank, a digital bank platform located in Brazil, is introducing a new function to all of its cryptocurrency customers.

Rewards for holding the USDC digital currency will be provided by the bank. This includes daily returns with a set yearly rate of 4% on a minimum balance of $10 USDC. Following the success of a pilot study that tested variable pricing with a small sample of users over the course of the previous year, the feature is being expanded.

To start earning incentives, users must click “I Want to Participate” after gaining access to the cryptocurrency wallet inside the bank app. Users may readily opt in and out at any moment, however. Liquidity is instantaneous, and daily returns are promptly credited.

A stablecoin that is based on the US dollar is called USDC. It may be redeemed for USD at a 1:1 ratio and is supported by very liquid assets. Compared to other cryptocurrencies, it is less volatile since its reserves can be verified by the public.

Customers of Nubank now own ten times as much USDC as they did in 2024, accounting for 30% of their cryptocurrency holdings. USDC was selected as the first digital asset by over 50% of new Nubank Crypto customers.

Nubank introduces a cryptocurrency exchange service with reduced costs for ETH, SOL, UNI, and BTC. The option to exchange digital currencies in USDC for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) was introduced by Nubank late last year. There are lower costs associated with this function.

Through direct exchange, the functionality streamlines currency transfers and is integrated with Nubank Crypto.

Customers want swaps as they begin incorporating crypto assets into their strategy, according to Thomaz Fortes, Nubank’s Executive Director of Cryptocurrencies and Digital Assets at the time.

He pointed out With USDC and the four most well-known cryptocurrencies, the first implementation offers a means of guaranteeing possible gains from value growth without losing market share and at a lesser cost than selling for value in real.

Bitcoin Lightning Network is included into Nubank’s infrastructure.
To introduce the Bitcoin Lightning Network to its platform and clientele, Nubank has teamed up with Lightspark. Institutions are able to access the Lightning Network using Lightspark SDKs, APIs, and development tools. By optimizing liquidity needs and real-time routing to achieve the maximum transaction success rates, this makes it possible for low-cost, near real-time Bitcoin and fiat transactions.

With more than 100 million clients in Brazil, Mexico, and Colombia, Nubank is one of the biggest online banking networks outside of Asia. At first, the business operated as a mobile app-managed, zero-fee credit card. Since then, it has grown into a full-service banking organization offering a range of services, such as insurance and investments.

Also Read: Indonesia might lead worldwide adoption

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