On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Berkshire Hathaway, the company led by CEO Warren Buffett, has invested $500 million in a pro-bitcoin digital bank. Nubank says it will offer bitcoin investment following its acquisition of brokerage firm Easynvest which offers the trading of Brazil’s first bitcoin exchange-traded fund (ETF).
Berkshire Hathaway Invests in Pro-Bitcoin Digital Bank
Warren Buffett’s Berkshire Hathaway Inc. has invested $500 million in the parent company of Nubank, a Brazil-based bitcoin-friendly digital bank, the South American company announced Tuesday. This is part of the bank’s Series G funding round which began in January. The bank said it also raised $250 from other investors.
Founded in 2013, Nubank says it has 40 million customers, making it the largest digital bank in the world in terms of the number of clients. With the new investments, Nubank has become “the most valuable digital bank in the world and one of the largest financial institutions in Latin America,” the announcement details. Reuters noted that the new investments give Nubank a $30 billion valuation, which is only slightly less than Banco Santander Brasil SA, Brazil’s no. 3 bank. The publication previously reported that the bank is planning a U.S. stock market listing as soon as this year.
The pro-bitcoin Nubank has repeatedly said it will be offering bitcoin investment to customers following the acquisition of Easynvest, a brokerage firm that offers a bitcoin exchange-traded fund (ETF). Nubank received authorization from Brazil’s central bank to purchase Easynvest in May. Last week, the bank rebranded Easynvest to Easynvest by Nubank.
The bitcoin ETF offered by Easynvest is QBTC11 by QR Asset Management. It was the first bitcoin ETF approved by the Securities and Exchange Commission of Brazil (CVM). It is listed on the B3 stock exchange, one of the largest stock exchanges in Latin America and the second oldest in Brazil.
Nubank said Tuesday that it plans to use the money raised to fund its international expansion to Mexico and Colombia, launch new products and services, and hire more employees.
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