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NovaDAX

“Can a Abakus Group-backed Brazilian crypto exchange become the dominant low-fee digital-asset platform in Latin America while layering BRL-denominated banking services on top of crypto holdings?”

Founded2018
HQSão Paulo, Brazil
Total raised$20M
IndustryFintech / Crypto
The story

Founded in 2018 as part of China-based Abakus Group, NovaDAX rapidly became one of Brazil's most popular crypto exchanges, differentiating on low fees and breadth of listed assets. In 2020 it layered embedded finance features on top of the exchange — a digital account and prepaid card enabling crypto-to-BRL conversions — moving toward a broader financial-services positioning. The exchange also expanded into Europe that same year. In 2026, following a strategic review, the platform announced a full discontinuation of its Brazilian brokerage operations, signalling an end to the NovaDAX brand rather than a pivot to a new product line.

Last 12 months
2026
Product timeline
2018
NovaDAX founded in Brazil as a cryptocurrency exchange under the Abakus Group.· pivot
2020
Launched the first Digital Account in South America with a prepaid card enabling cryptocurrency-to-BRL payments.· banking
2020
Expanded operations to Europe, allowing EUR-denominated crypto purchases with 3D-Secure card support.· payments
2026
Announced discontinuation of cryptocurrency brokerage services in Brazil and initiated a structured wind-down.· pivot
Regulated entities
1
regulatory licence held by NovaDAX
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in NovaDAX’s embedded-finance stack
Money movement
Pix
Accounting gap: minor