Last week, Nubank announced a significant step forward in its digital asset strategy by appointing Michael Rihani as the new Head of Crypto. This move highlights the fintech giant’s commitment to enhancing its services in the growing field of cryptocurrencies, a market that is witnessing accelerated adoption throughout Latin America.
Rihani, a seasoned product leader with over 15 years of experience, will spearhead the growth and development of Nubank Crypto, the company’s platform that allows users to buy, sell, and store digital currencies directly within the Nubank application. The service has already garnered impressive traction, boasting around 6.6 million users since its inception.
Reporting to Thomaz Fortes, the executive director for crypto and digital assets, Rihani expressed his fervent dedication to the world of cryptocurrencies. “I’m dedicating the rest of my career to bitcoin and improving the world’s financial system,” he stated. Rihani emphasized the innovative environment at Nubank, suggesting that it offers a unique opportunity to create impactful financial solutions. He remarked, “If you want to build something new and impactful, there is no better place than Nubank. Nubank Crypto has become one of the most competitive options on the market, and it’s a privilege to work with a team ready to redefine the future of money.”
Bringing an extensive background in fintech and technology to his new role, Rihani has a rich history of impactful contributions to reputable firms. Previously, he served as the Director of Product at Coinbase, where he led various initiatives including transfers, payments, and the company’s debit and credit card operations. His experience also includes significant roles at Cash App, where he contributed to the development of financial products, and Tesla, where he collaborated with Elon Musk on implementing bitcoin payment solutions on the company’s website. Additionally, Rihani’s tenure at Apple saw him involved in the design of key products like Apple Pay on the Web, Apple Card, and Apple Cash.
This new appointment is a clear indication of Nubank’s ambitions to play a central role in the digital finance landscape and to cement its position as a leader in cryptocurrency adoption across the region. As the industry continues to evolve, Nubank aims to leverage Rihani’s expertise to drive innovation in its crypto offerings and enhance user engagement in digital currencies.
