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Crypto-Friendly Bank Backed Plans $2 Billion IPO on Nasdaq For the End of This Year
Summary: Nubank, a Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway, is planning an initial public offering (IPO) of more than $2 billion on the Nasdaq stock exchange for the end of this year, according to Bloomberg. Nubank is crypto-friendly and offers investments in a bitcoin exchange-traded fund (ETF). The bank said, “The cryptocurrency ETF ...
Nubank, a Brazilian digital bank backed by Warren Buffett’s Berkshire Hathaway, is planning an initial public offering (IPO) of more than $2 billion on the Nasdaq stock exchange for the end of this year, according to Bloomberg. Nubank is crypto-friendly and offers investments in a bitcoin exchange-traded fund (ETF). The bank said, “The cryptocurrency ETF can be a way to further democratize access to the crypto market.”
In June, Berkshire invested $500 million in the Sao Paulo-based digital bank which has more than 40 million clients throughout Latin America. According to the people, Nubank may seek a valuation of more than $40 billion. The bank was valued at $10.4 billion after a private fundraising in early 2019 but its valuation soared to $30 billion by June after the $500 million investment by Berkshire.
By Amy Liu
Tags: Crypto,IPO,Nasdaq,Nubank
Link: Crypto-Friendly Bank Backed Plans $2 Billion IPO on Nasdaq For the End of This Year [Copy]
