Petro, Venezuela's oil-backed crypto is falling. Users are reporting paralysis, little acceptance among the public and a government overhaul.
Cryptocurrency offers e-commerce merchants some benefits, from ease to convenience to security.
Funds such as Soma Capital, GBV, Techstars, Devlabs, Ripio Ventures, and Platanus Ventures also joined Arch's investment round.
Last week, it was BlackRock announcing their bitcoin ETF, and now we have a consortium involving Citadel Securities, Fidelity, and Schwab launching a new crypto exchange called EDX Markets.
Nubank announced in October the creation of the digital currency, which is part of its new blockchain and crypto-assets initiative in LatAm.
To increase the engagement of the fintech's user community, the new product will expand Nubank's internal rewards program.