NG.CASH raises $15 million from Blockchain Capital to build stablecoin and credit products

NG.CASH, the Brazilian financial technology company built for Generation Z consumers, announced on September 23, 2026 that it has raised a $15 million strategic investment led by Blockchain Capital, a San Francisco venture firm focused on crypto and digital asset infrastructure. The round brings the São Paulo and Rio de Janeiro based company's total funding since its 2021 founding to more than $65 million, according to a press release issued from São Paulo the same day.

The raise adds a crypto-specialist investor to a cap table that already includes New Enterprise Associates, Andreessen Horowitz, Quantum Light, Endeavor Catalyst, 17Sigma, Daphni and Monashees. NG.CASH said the new capital will fund two priorities at once: scaling its consumer credit products and laying the groundwork for regulated digital asset services, with stablecoins positioned at the center rather than speculative crypto trading.

NG.CASH has an unusual origin story for a licensed financial institution. It began in 2021 as an offshoot of a YouTube channel that then had about 10 million subscribers and has since grown to roughly 20 million, giving the company a built-in distribution channel of young Brazilians. That audience has translated into more than 10 million accounts, up from 7 million in mid-2025, with more than $2 billion transacted across the platform over its history. Its users are concentrated among middle and lower income households across Brazil, and for many of them NG.CASH is the first financial account anyone in the family has ever opened.

The product set now spans accounts, prepaid cards, Pix instant payments and savings products, alongside an expanding credit book. In 2026 the company launched Pix Crédito, which combines credit with instant payments, and Crédito CLT, a payroll loan product aimed at formally employed workers. Credit has become the commercial center of gravity, and NG.CASH has set a target of BRL 1 billion, nearly $200 million, in credit originated by 2027. The company's stated ambition is broader still: it says its history as a mass-market distributor positions it to become one of the first movers on stablecoin and crypto adoption at scale in Brazil.

Key Facts

Crypto Briefing reported on September 23 that NG.CASH locked down the $15 million round led by Blockchain Capital, with the money earmarked for consumer credit expansion and for laying the groundwork for digital asset services in Latin America's largest economy. The report notes that the company's previous $26.5 million Series B closed in mid-2025 with New Enterprise Associates leading and Monashees and Andreessen Horowitz participating, bringing cumulative funding to around $51 million before the new raise pushed the total past $65 million.

LatamList reported on September 23 that NG.CASH will use the funds to develop blockchain and stablecoin products and to expand its credit offering, and that the company plans to use stablecoins for everyday financial transactions rather than for digital asset investing. The same report places the platform at more than $2 billion processed and more than 10 million users, up from 7 million in mid-2025, and notes that the strategic round is the company's first since the 2025 Series B.

Startups.com.br reported on September 23 that the deal was negotiated directly between the two parties, without a bank or a financial adviser, and that it grew out of the relationship between NG.CASH chief executive and co-founder Mario Augusto Sá and international funds. The Brazilian outlet also reported that NG.CASH does not classify the investment as a Series C or as an extension of its Series B, but rather as a strategic opportunity with an investor that was not yet on the cap table.

PR Newswire carried NG.CASH's announcement on September 23. Sá said: "Millions of young Brazilians have grown up without a financial platform built for the way they actually live and bank. Blockchain Capital's investment confirms NG.CASH is becoming that platform." Kinjal Shah, General Partner at Blockchain Capital, said: "Brazil is exactly the kind of market we believe will produce them. NG.CASH has already proven it can build and scale a business young Brazilians actually use."

On the regulatory side, NG.CASH holds two Central Bank of Brazil licenses, one as a payment institution and one as a direct credit society that it acquired from BizCapital, and it has a Virtual Asset Service Provider (VASP) license application in process. Brazil's central bank regulated the virtual asset market in February 2026, with a transition period ending on October 31, a deadline the company describes as a window of opportunity. Adding the VASP license would give NG.CASH what Crypto Briefing described as a full regulatory trifecta covering payments, credit and digital assets.

Analysis

The bigger picture here is that this is not a crypto bet dressed up as a fintech round. NG.CASH's own framing, repeated across the Brazilian coverage, is that stablecoins are a payments and settlement tool for people who already use the app for Pix transfers and prepaid card spending, not an investment product. That distinction matters in a market where the central bank has spent 2026 building a regulated perimeter for virtual assets. The October 31 transition deadline gives incumbents and newcomers a short window to convert existing operations into licensed ones.

The second judgement concerns the shape of the round. Startups.com.br reported that the company explicitly declined to label the $15 million as a Series C or as an extension of its July 2025 Series B, which is a telling choice. Calling it strategic rather than a priced equity round keeps expectations flexible, lets a crypto-specialist fund in without resetting the valuation narrative, and signals that NG.CASH did not need the money so much as it wanted the partner. Comments from co-founder and CMO Antônio Nakad that the company has stayed well capitalized since the previous round support that reading.

Third, the credit target is the real scoreboard. BRL 1 billion in originations by 2027 is a very different business from an app with prepaid cards and Pix transfers. Crédito CLT is a payroll loan, which means repayment comes out of a formal salary, and Pix Crédito blends credit with instant payments, which means the company is underwriting short-duration risk at high volume. Credit is what turns a distribution audience into a balance sheet, and it is also what makes the stablecoin ambition coherent: cheap, fast settlement rails are genuinely useful for a lender that wants to move money at low cost.

What this really means is that Brazil has become a test case for whether a consumer fintech born on social media can convert audience into regulated financial infrastructure. The comparisons that matter are not with other crypto apps but with the licensed lenders and payment institutions that already hold the trust of Brazil's central bank. NG.CASH starts with distribution that most licensed institutions would envy, more than 10 million accounts and a 20 million subscriber channel, and now has to prove it can underwrite credit and comply with digital asset rules at the same time.

Why It Matters

Brazil is the largest crypto market in Latin America and, according to Nakad, the fifth largest in the world, which is why a $15 million round in São Paulo registers with investors far outside the country. The Central Bank of Brazil's February regulation and the October 31 transition deadline mean the rules of the game are now written down, and firms that obtain a VASP license early can serve users inside a legal perimeter rather than around it.

For the millions of Brazilians who opened their first financial account through NG.CASH, the practical stakes are tangible: credit products that do not require a legacy banking relationship, and payment rails that could eventually use stablecoins to settle transfers cheaply. For the wider fintech market, the round is a reminder that the next wave of Brazilian financial services may be built by companies that started as media brands rather than banks.

The competitive signal is equally clear. Blockchain Capital joins Andreessen Horowitz, New Enterprise Associates and Monashees on the cap table, and the company describes itself as positioned to be one of the first movers on stablecoin adoption at scale in Brazil. If it executes on both credit and digital assets, NG.CASH would hold payments, credit and crypto permissions under one roof, a combination few Brazilian fintechs can claim.

Next Up

The next milestones are concrete. NG.CASH must convert its pending VASP application at the Central Bank of Brazil into an approval, ideally around the October 31 transition deadline, and it must build the stablecoin product it says will serve everyday transactions. On the credit side, the BRL 1 billion origination target for 2027 will be the number to watch, and Crédito CLT and Pix Crédito will carry most of that load.

Blockchain Capital, meanwhile, gains a distribution channel into a market where, as Kinjal Shah put it, the firm believes scale businesses for young consumers will emerge. Whether the partnership produces a regulated crypto payments stack, a lending book, or both, the coming year of licensing and origination data will show how far a YouTube audience can be converted into financial infrastructure.