Nubank Eyes Stablecoins to Power Payments and Credit

Nubank, Latin America's largest digital bank, is preparing to integrate dollar-backed stablecoins and credit cards into its payments system. The plan was disclosed by vice-chairman Roberto Campos Neto, the former governor of Brazil's central bank, during the Meridian 2025 event this week. He pointed to blockchain technology as a potential bridge between digital assets and traditional financial services.

Local media reports say the bank will pilot stablecoin payments through credit cards in the coming months. The initiative could later expand to tokenized deposits that may serve as collateral for lending, linking stablecoins more directly to Nubank's credit operations. Campos Neto noted that many customers view stablecoins primarily as a store of value rather than a transaction tool, reflecting wider trends in the region.

Stablecoin use in Latin America has been growing rapidly amid persistent inflation and local currency volatility. Brazil's central bank reported earlier this year that 90% of crypto activity in the country involves stablecoins. In Argentina, where inflation has exceeded 100% in recent years, tokens such as USDt and USDC have become popular for both savings and everyday payments. In Venezuela, stablecoins are widely used in commerce as the bolívar continues to lose value.

ubank has been gradually expanding into digital assets since 2022, when it allocated part of its balance sheet to Bitcoin and introduced crypto trading for customers. It later added several altcoins and tested blockchain-based loyalty tokens. The new stablecoin pilot represents another step in its digital asset strategy, positioning the bank within a broader regional shift toward dollar-pegged tokens.