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Nubank and Mercado Pago suspend crypto transfers in Brazil over provider issue

Brazilian digital banking giant Nubank has temporarily halted cryptocurrency deposits and withdrawals following an alert regarding an external service provider, while fellow fintech Mercado Pago has also paused transfers.

Exterior view of Nubank building with a purple logo sculpture in front.
Image: @Crypto_Briefing

Brazilian digital bank Nubank has temporarily suspended cryptocurrency deposits and withdrawals due to an issue involving an external service provider, according to reports. Fellow Latin American fintech giant Mercado Pago was also impacted and paused crypto transfers.[1][2][3]

Nubank, which serves roughly 120 million customers in Brazil, issued an in-app notice informing users that deposit and withdrawal services are currently unavailable while the company works to restore them. In-app cryptocurrency trading remains open, and the bank stated that user assets and personal information remain secure while other crypto services continue to function normally.[2][3]

Key facts

  • Nubank temporarily suspended crypto deposits and withdrawals in Brazil after receiving an alert regarding an external service provider.
  • Mercado Pago also temporarily halted crypto transfers alongside Nubank.
  • In-app cryptocurrency trading on Nubank remains open while deposit and withdrawal functions are restored.
  • Nubank stated that customer assets and information are safe and other crypto features operate normally.
  • Nubank currently serves around 120 million customers in Brazil.

Sources 路 3 sources

  1. CO

    Cointelegraph@CointelegraphPost on X 路

    馃嚙馃嚪馃毃 JUST IN: Two of Latin America's biggest fintechs just hit pause on crypto. Nubank and Mercado Pago have temporarily suspended crypto transfers, with Nubank blaming an outside provider and saying user assets are safe. Would you trust a bank with your crypto? https://t.co/zJ0hv0HSYf

    Open source
  2. CB

    Crypto Banter@crypto_banterPost on X 路

    馃毃NUBANK HALTS CRYPTO DEPOSITS AND WITHDRAWALS AFTER PROVIDER ALERT! Brazil鈥檚 major digital bank Nubank temporarily suspended crypto deposits and withdrawals on Friday after receiving an alert from its service provider, according to reports. The app shows a notice that the functions are unavailable while the company works to restore them. Trading inside the app remains open, and Nubank says user assets are safe. Mercado Pago was also impacted.

    Open source
  3. CB

    Crypto Briefing@Crypto_BriefingPost on X 路

    馃彟 NEW: Nubank suspends crypto deposits and withdrawals in Brazil due to an issue with an external provider. The fintech, which serves around 120M customers in Brazil, says user assets and information remain safe and other crypto services are operating normally. https://t.co/5jKH7Edzje

    Open source