Bitcoin: Nubank Appoints Ex-Coinbase Crypto Lead

Nubank Appoints Michael Rihani as Head of Crypto

• Brazil’s Nubank, a major digital bank with over 123 million customers, appointed Michael Rihani as Head of Crypto.
• Rihani previously worked at Coinbase, where he led non-trading products and helped launch nearly $1 billion in Bitcoin-backed loans.
• Nubank’s crypto service now supports direct card payments with USDT and USDC stablecoins, which make up 90% of local crypto usage in Brazil.
• The platform has integrated Bitcoin’s Lightning Network for payments among its 100 million Latin American customers.
• Nubank holds over 60% of Brazil’s adult population as customers and maintains a market cap exceeding $75 billion.

Michael Rihani’s appointment as Head of Crypto at Nubank marks the company’s continued expansion into digital asset services, leveraging his experience from Coinbase to enhance its platform.