Nubank, the leading digital banking platform in Latin America, is setting its sights on integrating dollar-pegged stablecoins with its credit card offering, aiming to enhance payment capabilities and connect digital assets with traditional banking.
The announcement was made by Nubank’s vice-chairman, Roberto Campos Neto, who previously served as the governor of Brazil’s central bank. Speaking at the Meridian 2025 conference, Campos Neto emphasized the pivotal role of blockchain technology in creating synergies between digital currencies and conventional financial systems.
According to reports from local media, Nubank is gearing up to initiate pilot tests that will enable customers to use stablecoins for credit card transactions. This move is part of a wider strategy to bridge the gap between digital assets and banking services. Campos Neto remarked, “What the data shows is that people aren’t buying to transact; they’re buying as a store of value. We need to understand this evolution in consumer behavior.” He also pointed out the need for banks to innovate by accepting tokenized deposits and leveraging these assets to extend credit to consumers.
Launched in 2013 in São Paulo, Nubank has rapidly grown to serve over 100 million clients across Brazil, Mexico, and Colombia. The bank took its first steps into the cryptocurrency market in 2022, investing 1% of its net assets in Bitcoin while also introducing crypto trading options for its customer base. In March 2025, Nubank expanded its cryptocurrency offerings to include four additional altcoins: Cardano (ADA), Cosmos (ATOM), Near Protocol (NEAR), and Algorand (ALGO).
This push towards stablecoin integration comes amidst a significant uptick in stablecoin use across Latin America. Recent statistics reveal that up to 90% of cryptocurrency transactions in Brazil are now associated with stablecoins, as highlighted by the president of the Central Bank of Brazil at a recent Bank for International Settlements event. The trend is similarly notable in Argentina, where persistent inflation rates exceeding 100% have prompted consumers to seek refuge in stablecoins.
A report from Bitso in March 2025 indicated that USDt (USDT) and USDC (USDC) constituted a staggering 50% and 22% of all cryptocurrency purchases in Argentina, respectively. Additionally, across the Latin American region, stablecoins accounted for 39% of all transactions on the Bitso platform during 2024.
Further emphasizing the regional momentum for stablecoin adoption, Bolivia’s Central Bank signed a collaboration agreement with El Salvador in July 2025 to bolster the use of cryptocurrencies as a credible alternative to fiat currencies. After the country lifted its ban on cryptocurrencies in June 2024, banks in Bolivia were granted permission to conduct transactions involving Bitcoin and stablecoins.
In Venezuela, where a staggering inflation rate of 229% was recorded in May, stablecoins like USDt are increasingly being used in everyday transactions, replacing the bolívar in commerce ranging from grocery purchases to salary payments. Data from Chainalysis indicates that stablecoins comprised 47% of all crypto transactions under $10,000 in Venezuela in 2024.
Nubank’s foray into stablecoin payments highlights a broader trend in Latin America, as traditional banking institutions adapt to the evolving financial landscape marked by the growing prominence of cryptocurrencies. This strategic move could herald a new era for consumer payments in the region.
