Nubank Moves to Integrate Dollar-Pegged Stablecoins and Credit Cards

Nubank, Latin America’s largest digital bank, is preparing to take a major step into the world of digital assets. The Brazilian fintech giant plans to integrate dollar-pegged stablecoins into its payment system and enable credit card transactions with these tokens, according to statements made this week by the bank’s vice-chairman Roberto Campos Neto.

Campos Neto, who previously served as the governor of Brazil’s central bank, revealed the plan during the Meridian 2025 event on Wednesday. He emphasized that blockchain technology can bridge the gap between digital assets and traditional finance. 

“What the data shows is that people aren’t buying to transact, they’re buying as a store of value,” he noted, highlighting the growing interest in stablecoins as a hedge against inflation and currency volatility.

Blockchain Meets Mainstream Banking Via Nubank

Local reports say Nubank will begin testing stablecoin payments with its credit cards as part of a broader push to connect digital asset markets with everyday banking. Campos Neto explained that banks must learn how to accept deposits in tokenized form and use them to issue credit—an approach that could reshape how financial institutions operate.

Founded in São Paulo in 2013, Nubank now serves more than 100 million customers across Brazil, Mexico, and Colombia. The bank began its crypto journey in 2022 when it allocated 1% of its net assets to Bitcoin and launched crypto trading services. 

Earlier this year, Nubank expanded its crypto lineup to include Cardano, Cosmos, Near Protocol, and Algorand, signaling a steady commitment to the sector.

Latin America’s Stablecoin Surge

The move comes as Latin America experiences a rapid rise in stablecoin adoption. Brazil reported that 90% of its crypto activity is tied to dollar-backed assets. Neighboring Argentina has also embraced stablecoins amid inflation rates that have exceeded 100% in recent years. A report from crypto exchange Bitso found that in 2024, USDt and USDC represented more than 70% of all cryptocurrency purchases in Argentina.

Other countries are following suit. Bolivia recently signed an agreement with El Salvador to promote crypto as a “viable and reliable alternative” to fiat currency after lifting its ban on digital assets. In Venezuela, where inflation hit 229% in May, stablecoins like USDt are already replacing the local bolívar for everyday expenses, from groceries to salaries.

By integrating stablecoin payments, Nubank positions itself at the forefront of a regional trend, combining the security of blockchain technology with the convenience of traditional banking for millions of customers.