By Guest Writer • 06 June 2023 • 19:38
Lanistar has recently unveiled its latest feature for the Brazilian market with its new app update, which enables users to engage in cryptocurrency trading.
This addition is part of Lanistar’s ongoing efforts to enhance its services in 2023. Previous updates included integrating Google Pay with their virtual payment card, and upcoming updates involve launching in the UK and integrating with Apple Pay. These developments position Lanistar as a potential competitor to neobanking giant Nubank, who in recent months also unveiled their own product to infiltrate the crypto market.
But what does Lanistar have to offer, and how can it stand up against an industry giant like Nubank?
Lanistar has officially launched its cryptocurrency trading functions in Brazil, allowing customers to buy and sell various cryptocurrencies through their mobile payment app. This feature has been highly anticipated, and it is now available for all of Lanistar’s customers in Brazil.
The fintech company aims to redefine finance by adopting innovative approaches, such as eliminating physical cards and offering cryptocurrency as a solution for underserved individuals. Lanistar’s CEO, Jeremy Baber, emphasises the accessibility and user-friendly nature of the crypto exchange, stating that “With Lanistar, our goal is to make something that anyone can use. Where users can just log on, tap a few buttons, and their chosen crypto is there, in their account”.
As a fintech company built on disrupting financial norms, spearheading crypto integration is only natural for Lanistar. After all, crypto was first created as a response to a financial industry that had seemingly failed its users, and there is Lanistar, providing a financial platform for those feeling like the current financial market does not cater to their needs.
In a similar move, Nubank, Brazil’s largest neobank, introduced its own cryptocurrency called “Nucoin” earlier this year. The primary purpose of Nucoin is to support Nubank’s loyalty program and provide a secure entry point into the crypto ecosystem for its customers. With increased understanding and accessibility of cryptocurrencies, it is becoming common for neobanks and fintech companies to explore this market, particularly in regions like Brazil, where the population is relatively young and underbanked.
Merton Smith, Lanistar’s Chief Commercial Officer, gave some insight into why fintechs and neobanks like Nubank are integrating cryptocurrencies. He stated, “We’re embracing crypto. Crypto is an example where, you know, it’s definite, it’s defined, it’s there. I think that we serve the underbanked, the underserved people who don’t feel like they are represented by traditional banking institutions. And I think crypto is one of the things that people have turned to as an alternative to these systems”.
While both Lanistar and Nubank offer accessible gateways to the cryptocurrency ecosystem, it remains to be seen which approach will prove more successful. For Nubank customers, the availability of Nucoin provides a simple introduction to crypto that may ignite further interest. On the other hand, Lanistar users can benefit from a beginner-friendly crypto exchange that empowers them to take full control of their finances.
Lanistar’s app is currently accessible in Brazil and will expand to the UK and other LATAM regions later this year, accompanied by additional features like a comprehensive crypto exchange.
For more information on Lanistar, visit:
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WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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