Buffett-backed Brazilian digital bank Nubank to integrate Bitcoin Lightning Network

Brazilian digital bank Nubank, after collaborating with cryptocurrency companies such as Circle and Polygon, has now introduced the Lightning Network through infrastructure service provider Lightspark. Berkshire Hathaway, owned by Buffett, has invested in Nubank twice, and the latter continues to integrate cryptocurrency elements into its policies, a stark contrast to Buffett's disdain for Bitcoin.

Nubank Integrates Lightning Network

According to a press release, Nu Holdings Nubank plans to integrate the Bitcoin Lightning Network into its digital banking system through a partnership with Lightspark. The integration is currently in progress as they work on developing potential products.

Infrastructure service provider Lightspark is dedicated to offering enterprise-grade Lightning Network access to facilitate near-instant, low-cost Bitcoin and fiat currency transactions.

David Marcus, CEO and Co-founder of Lightspark, stated:

We are excited to play a role in integrating the Lightning Network into Nubank and providing efficient solutions to its tens of millions of users. It's a pleasure to help Nubank continue to evolve its crypto solutions and collaborate with their talented team.

Thomaz Fortes, Executive Director of Nubank Cripto, pointed out that the future integration of the Lightning Network will enable Nubank to achieve more efficient transactions and lower costs through blockchain technology.

Nubank Attracts Buffett's Interest

Founded in 2013, Nubank has attracted investors in recent years such as Sequoia Capital, Tencent, Tiger Global, and Berkshire Hathaway, among other top institutions. In 2021, it was listed in TIME's 100 Most Influential Companies and CNBC's 50 Disruptor Companies. With over 90 million users in Latin America, Nubank gained recognition in the crypto space after receiving investment from Warren Buffett's Berkshire Hathaway in 2021.

Nubank's businesses not only include a Latin American Bitcoin ETF but also collaborations with crypto companies like Circle and Polygon. This includes integrating USDC into its crypto trading platform Nubank Cripto and issuing a platform token through Polygon as a loyalty reward token for user programs.

Circle Partners with Brazilian Digital Bank Nubank to Increase Adoption of $USDC in Latin America