Nu Launches U.S. Services After OCC Approval
The launch includes a 3.50% APY account, no-annual-fee cards and stablecoin transfers across more than 35 countries, the company said.
- On Wednesday, Brazilian digital bank Nubank launched financial products in the United States through a partnership with FDIC-insured Lead Bank, offering high-yield deposit accounts, remittances, and a no-fee Mastercard credit card.
- Nubank is entering the U.S. via a partner-bank structure because its independent national bank charter remains subject to regulatory approvals from the Federal Reserve and FDIC following conditional OCC approval in January.
- The Nu Account offers a 3.50% APY, while the no-fee Mastercard credit card provides 1.5% cashback on purchases; qualifying customers can earn 4.50% APY on balances up to $10,000 by completing three transactions every 34 days.
- Separately, Nubank introduced Nu Global, a digital account integrating Circle stablecoins to support money transfers across parts of Europe and Latin America by converting deposits into dollar-pegged USDC or euro-pegged EURC.
- Nubank CEO David Velez described the expansion as the beginning of a "multi-decade journey" outside Latin America, as the firm, which serves more than 140 million customers in Brazil, Mexico, and Colombia, targets the U.S. market.
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Nubank sent a cofounder to win the U.S. market. Now it’s getting ready for its debut
Cristina Junqueira moved to Miami two years ago to lead the $16 billion digital bank’s U.S. expansion. Now Nubank is launching a suite of products as it takes on American banking.
The digital bank already has operations in Brazil, Mexico and Colombia. With UN Global it will be possible to mobilize money from different currencies to more than 35 countries.
The Latin American digital bank Nu began opening operations in the United States, where it also presented a global digital account.
Miami (USA), Sep 10 (EFE).- The Latin American digital bank Nu seeks to capture migrants arriving in the United States with little credit history, a segment to which it claims to be able to offer faster access to credit thanks to the financial information of its clients in Latin America, said Thursday to EFE its founder [...] La entrada Brazilian bank Nu announces in Miami its opening in the United States and a global digital account was first p…
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