Nubank’s Q4 2025: Latin America’s digital banking juggernaut is just getting started (but the market already knows it) 😤📈; Meta’s second crypto act works because it’s not about crypto 📱🪙

FinTech is Eating the World, 3 March

Hey Everyone,

Good morning & happy Tuesday! Today, all eyes are on Nubank, and why LatAm’s digital banking giant is just getting started (deep dive into their Q4 & full 2025 year financials, breaking down the most important facts and figures, understanding what they mean & what’s next for NU 0.00%↑), and Meta, which is getting back to the stablecoin game again (what it’s all about & why it matters + bonus deep dive into Stripe, which might be Meta’s launch partner for stables, & the ultimate list of stablecoin resournces inside). So let’s jump straight into the interesting stuff 🌶️

Nubank’s Q4 2025: Latin America’s digital banking juggernaut is just getting started (but the market already knows it) 😤📈

Earnings time 🤑 NubankNU 0.00%↑, the world’s largest digital banking platform outside of Asia, just posted its latest FY2025 financials, which confirmed what the market has been pricing in already: Nubank is a rare compounder that pairs hypergrowth with elite profitability.

Its structural cost advantage - $0.80 monthly cost-to-serve versus $5-12 at incumbent Brazilian banks - is the engine that lets it profitably undercut legacy competitors while monetizing customers at an expanding rate.

Thus, the question now is not whether the business works. It does, and very well. The key question is whether today’s valuation leaves room for new money to earn an adequate return, given the Latin American macro risks embedded in a credit portfolio that has yet to be tested through a severe regional recession.

Let’s dive deep and find out.