By integrating Fireblocks into Nubank Cripto, the neobank aims to improve its existing custody capabilities by bringing enterprise-grade security and governance to its clients. Specifically, the Fireblocks Network supports direct connectivity to liquidity providers, which fosters better settlement efficiency as well as improved operational security, and fewer manual processes and errors.
Fireblocks also offers a modular and scalable infrastructure that can provide Nubank’s engineers with the ability to create new experiences for their users in the future. For instance, the neobank is involved in Brazil’s Digital Real project to some extent.
Representatives from Nubank Cripto cited by Fireblocks talked about their partnership with the US-based company and highlighted its new role as Nubank’s digital asset infrastructure provider. They also talked about blockchain technologies and the opportunities that they bring, as well as their ability to support real innovations in the financial system of Brazil and Latin America. Nubank officials also revealed their goals to be at the forefront of blockchain adoption in a bid to simplify complexities and provide their customers with more control over their financials.
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. The company enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure.
Fireblocks serves more than 1,500 financial institutions, has secured the transfer of over USD 3 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit.
Nubank is a digital financial services platform that serves more than 80 million customers across Brazil, Mexico, and Colombia. The company leverages proprietary technologies and innovative business practices to put forward new financial solutions and experiences for individuals and SMEs. The solutions developed by Nubank are designed with simplicity, convenience, and low cost in mind.
In July 2023, Nubank partnered with Brazil-based fintech EBANX to launch a new alternative payment service for international purchases named NuPay.
NuPay is set to provide customers with a secure, fast, and efficient payment experience. After choosing NuPay at checkout, clients are redirected to Nubank’s application to complete the purchase without having to offer credit card data with every new online or in-store purchase. Furthermore, the payment tool also gives users the capability to pay the purchases in up to 12 instalments.
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