Nu, a digital bank based in Latin America, $NU (+0.66%) has announced, according to a company press release, the launch of banking products in the U.S. as well as a new multi-currency account called Nu Global.
The Nu account offers an annual percentage yield (APY) of 3.50% on deposits, with interest calculated and paid out daily. Deposits are held at Lead Bank, an FDIC-insured partner institution. The account includes a metal debit card, savings goal features, and fee-free domestic and international transfers, initially covering Brazil, Mexico, and Colombia. Customers who combine the account with the Nu credit card and meet certain transaction requirements can earn a 4.50% APY on balances of up to $10,000.
The Nu credit card, issued through partner Mastercard, has no annual fee and offers unlimited 1.5% cashback on purchases, which can increase to 2% under certain conditions. Nu has applied for a national bank license from the Office of the Comptroller of the Currency and received preliminary approval in January 2026. The company currently operates through a partner bank model.
Nu Global is a separate, digital multi-currency account available in over 35 countries. Deposits are converted into stablecoins—either digital dollars (USDC), which yield 3.50% APY, or digital euros (EURC) with a yield of 2.20% APY. The account includes a virtual Mastercard, fee-free international transfers, and the ability to hold and trade digital assets such as Bitcoin and Ethereum.
In the last quarter, Nu reported more than 140 million customers in its Latin American markets. Quarterly net income exceeded $1 billion, and the return on equity was over 32%. In Brazil, the company serves over 60% of the adult population, and in Mexico, it is the largest digital bank.
Cristina Junqueira, co-founder and CEO of Nu US, explained that the company’s goal is “to become people’s primary bank.” She added, “Even capturing a small share of the U.S. market will fundamentally transform our business.”
Source: Investing