Nubank, Brazil's largest digital bank by market value, is now offering its customers the ability to buy and sell bitcoin (BTC) and ether (ETH) on its platform, the company announced Wednesday.
The crypto trading and custody service will be provided through Paxos' blockchain infrastructure, Paxos told CoinDesk.
The product will be made available to Nubank users in Brazil in stages on May 12, Paxos said, adding that it will reach the entire customer base by the end of July.
According to Paxos, users will be able to buy and sell cryptocurrencies with Brazilian reals, but they will not be able to withdraw or deposit cryptocurrencies initially.
Until now, Nubank has only allowed users to invest in cryptocurrencies through exchange-traded funds (ETFs) offered through its NuInvest investment unit, according to the company's website.