Nu enters U.S. market with global account built around USDC and EURC

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Nu enters U.S. market

Highlights

Nu has begun operations in the U.S. market.
The Nu Account offers a base yield of 3.50% APY.
Nu Global converts deposits into USDC or EURC.
Global transfers cover more than 35 countries.

According to the press release, Nu has started U.S. operations with a deposit account and credit card, while Nu Global will allow customers to move money across more than 35 countries. The expansion follows Nu receiving conditional approval for a U.S. national bank charter in January 2026, although the company is initially operating through a partner-bank structure.

Nu enters the U.S. banking market

The U.S. offering centers on the Nu Account, which pays 3.50% APY on available balances, with interest calculated and credited daily. Deposits are held by FDIC-insured partner Lead Bank rather than directly by Nu.

Customers will initially be able to make fee-free international transfers to Brazil, Mexico, and Colombia, with additional markets planned. Nu also intends to offer qualifying customers up to 4.50% APY on as much as $10,000 held in a savings goal.

Its Mastercard credit card has no annual fee and provides unlimited 1.5% cashback, with a planned route to 2% for customers meeting certain conditions.

The move gives Nu access to a market where annual retail banking revenue reached roughly $1.2 trillion in 2024 and is projected to approach $1.4 trillion by 2029, based on BCG estimates cited by the company.

Nu Global takes a different route

Nu Global is separate from the company's U.S. bank account and targets customers who regularly manage money across borders.

Deposits made through the service are converted into USDC or EURC, stablecoins designed to track the U.S. dollar and euro. USDC balances earn 3.50% APY, while EURC balances earn 2.20% APY. Customers also receive a virtual Mastercard for international spending without exchange-rate markups, according to Nu.

The account initially supports transfers across more than 35 countries, with integrations into Brazil, Colombia, Mexico, and the U.S. planned. Bitcoin and Ethereum trading will also be available alongside everyday balances.

Nu moves beyond Latin America

The launches represent a significant test of whether Nus's digital banking model can travel beyond the markets where it established its scale. The company now serves more than 140 million customers across Latin America and recently reported quarterly net income above $1 billion and return on equity exceeding 32%.

The strategy also combines two distinct financial models. In the U.S., Nu is entering regulated retail banking through an FDIC-insured partner while pursuing its own charter. Internationally, Nu Global uses stablecoins as the underlying infrastructure for multi-currency balances and cross-border transfers. That distinction will be central as Nu attempts to turn its regional scale into a broader global banking business.

As we previously reported, Dubai financial authority recognizes USDC and EURC as first stablecoins.

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