Latin America’s largest digital bank Nu has officially begun rolling out U.S. banking services and a separate global account that converts customer deposits into Circle-issued stablecoins USDC and EURC, marking one of the largest fintech integrations of stablecoin payments to date. The company disclosed the two launches on Sept. 10 through a company release and a corresponding SEC filing, with access expanding in stages beginning that date.
The U.S. operation is built through Lead Bank, a member of the FDIC, and offers deposit accounts, debit cards, credit cards, and domestic or international transfers. Nu itself is a financial technology company, not a bank; eligible deposits are held by Lead Bank and receive FDIC insurance subject to legal limits. The deposit account pays 3.50% APY, calculated and credited daily, while customers retain immediate access to money placed in designated savings goals. A limited-edition metal debit card accompanies the account. Nu’s Mastercard World Elite credit card carries no annual fee and pays 1.5% unlimited cashback at launch, with conditions for a future increase to 2% not yet fully detailed. The company also plans a 4.50% APY savings goal capped at $10,000 for customers who pair the deposit account with the credit card and complete qualifying transactions, though those higher rates are described as coming 'soon.'
Nu Global, a separate Swiss-regulated entity operating under Nu Global AG, converts deposited funds into USDC or EURC. The global account advertises 3.50% APY on USDC balances and 2.20% APY on EURC balances, both paid daily. It includes a virtual Mastercard for global purchases, with no added foreign-exchange markup subject to terms and jurisdiction. Transfers are available across more than 35 countries, initially focused on corridors between Europe and Latin America. Connections with Nu’s systems in Brazil, Colombia, Mexico, and the U.S. are planned for later, though no individual launch dates have been supplied. Customers can also hold and trade a limited selection of digital assets through the same app, including Bitcoin and Ethereum.
Nu’s national bank charter remains in the organization stage. The company applied to establish Nubank, National Association on Sept. 30, 2025, and received preliminary conditional approval from the Office of the Comptroller of the Currency on Jan. 29, 2026. Final authorization still requires FDIC deposit insurance, Federal Reserve membership, and completion of OCC preopening conditions. Nu has said it expected to capitalize the bank within 12 months and open it within 18 months, pointing to regulatory work continuing into 2027 unless conditions are completed earlier. Once authorized, Nubank N.A. expects to provide deposits, credit, lending, and digital-asset custody, including customer-directed purchases, sales, on-chain transfers, and staking services.
Cristina Junqueira, co-founder and CEO of Nu’s U.S. operation, said the company wants its app to become customers’ primary banking relationship, stating that 'capturing even a small share of the U.S. market will be transformative for our business.' Nu reported more than 140 million customers across its existing markets, and its Brazilian crypto platform had more than 7 million customers by March 2026. The company has not published separate U.S. customer, deposit, or revenue targets, nor has it identified the source of the advertised USDC and EURC yields or stated whether the return comes from issuer rewards, lending, treasury assets, or a subsidy funded by Nu.
