In recent years, several digital banks have incorporated buying and custody services for cryptocurrencies within their applications.
Nubank (in Brazil and Mexico), Revolut (with a presence in Europe and expansion plans in Latin America), Inter (in Brazil), and Brubank (in Argentina) are examples of entities that promise to facilitate access to digital assets for millions of customers.
But what does this imply in practice? Does it represent a significant change in the adoption of cryptocurrencies in the region, or is it just a publicity maneuver with limited functional reach?
In this article, we review the recent movements of these 'pure' digital banks regarding crypto, comparing their services with those of specialized exchanges. We also reflect on whether they can truly foster greater use of cryptocurrencies among the general public in Latin America.
What do these 100% digital banks offer?
Most digital banks that join the crypto ecosystem start with simple features: buying and selling BTC and ETH through the same app, with a simple interface that connects to the bank account. For the user, it is very practical not to have to open accounts on external platforms.
For example, Nubank allows users to acquire Bitcoin and Ethereum with very low minimum amounts; Revolut, quite popular in Europe and reaching Latin American regions, offers a broader catalog of cryptos and has signaled an intention to expand its options; Brubank in Argentina has announced intentions to venture into the crypto sector, although its features vary according to local regulations. Inter, also in Brazil, has studied the integration of cryptocurrency buying and basic storage services.
Digital banks vs. exchanges: How different is the experience?
While operating from a digital bank may be more convenient —taking advantage of the credibility and simplicity of its app—, one must not forget the differences compared to exchanges:
Limited variety of coins: Generally, banks offer only BTC and ETH, maybe some stablecoin.
Few advanced features: You will hardly find staking, farming, futures, or trading between different pairs.
No transfers to external wallets: Many banks only allow you to buy and hold crypto within their system, without giving you the option to transfer to your personal wallet.
In contrast, specialized exchanges (like Binance, OKX, etc.) allow you to trade dozens or hundreds of tokens, perform technical analysis with advanced tools, and access complex DeFi products. For experienced investors, this difference is fundamental. Furthermore, keeping private keys —or moving assets to your own wallet— is usually not an option in digital banking.
Regulation and security: the main advantage of neobanks
One of the strengths of pure digital banks is that they are subject to clear regulations, supervised by authorities such as the Central Bank in Brazil or the BCRA in Argentina, which adds trust for beginners. Additionally, the integration of crypto within their standard banking structure facilitates tax compliance and traceability, aspects that attract users seeking convenience and transparency.
At the same time, this regulation may pose barriers to innovation: higher fees, restricted operations, and less connection to the decentralized world. If you are a crypto philosophy enthusiast who values sovereignty over private keys, banks may not offer all the freedoms you would expect.
User experience: a strong point of 'pure' digital banks
The UX in digital banks has become a standard of simplicity, and in the field of cryptocurrencies, they replicate that formula:
Integration with your balance: You don't have to move money to another place, as the buy/sell is deducted from your main account.
Minimal steps: No need to do extra KYC on a crypto platform; it leverages existing banking KYC.
Perceived security: The novice user trusts their neobank more than an unknown exchange, especially in Latin American areas where crypto scams have made headlines.
This 'easy access' can enhance crypto adoption among a broader audience, seeking a small exposure to the market without complicating themselves with advanced trading or exchanging addresses in external wallets.
Marketing or solid trend?
It is still too early to say whether this crypto integration of digital banks is a lasting move or a gesture aimed at taking advantage of the crypto 'boom.' Many people believe that financial entities are testing the waters to assess user response, as well as the regulatory landscape, before expanding their offerings more aggressively.
However, with crypto regulation advancing in countries like Brazil, Mexico, Colombia, Argentina, and Chile, banks will want to position themselves if cryptocurrencies solidify their role in the next generation of finance. The future of banking services could include asset tokenization, smart contracts, stablecoins, and the fusion of DeFi with traditional finance.
What impact does it have on the general adoption of crypto?
Perhaps the most important aspect is not the functions of these banks themselves, but the financial education they promote and the transformation in the perception that people have of cryptocurrencies. By offering Bitcoin or Ethereum directly in apps that millions of people already use, part of the fear is eliminated, breaking down the barrier of technological complexity.
Although the experience is limited, it serves as a gateway. And many of those users —after some time— might venture to explore more advanced alternatives, such as exchanges with greater offerings and operational freedom.
Conclusion: Does your neobank already sell cryptocurrencies?
The entry of digital banks into the crypto universe marks a significant step towards the mass adoption of digital assets. Although their services are still restricted, they help normalize the use of cryptocurrencies in the daily lives of the population.
Are we witnessing simple marketing maneuvers or a real trend? Time will tell. But one fact is clear: the more facilities offered to invest in crypto, the more interest will arise among the general public. In this scenario, banks and exchanges could adopt complementary roles, rather than being rivals.
Have you ever bought crypto from a digital bank in your country?
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