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# Nu enters US banking market with stablecoin-powered global account strategy
- URL: https://www.theglobalbanker.com/nu-entered-us-banking-market-with-stablecoin-powered-global-account-strategy/
- Published: 2026-09-11T20:06:12.000Z
- Updated: 2026-10-02T01:12:16.000Z
- Description: Nu launched full US banking services through partner Lead Bank and introduced Nu Global, a multi-currency account built on Circle's USDC and EURC stablecoins, extending a franchise built across Brazil, Mexico and Colombia.
- Author: TGB Editorial Team
- Tags: Fintech, Americas

Nu is expanding beyond Latin America for the first time with a US consumer banking proposition and a separate stablecoin-powered global account, extending the largest digital bank in Latin America, with more than 140 million customers, into the world’s largest financial services market while targeting the cost of cross-border money movement.

The group now offers US customers current accounts, debit and credit cards, savings products and domestic and international transfers. Deposits are held at Nu’s FDIC-insured partner Lead Bank; Nu applied for a US national bank charter with the Office of the Comptroller of the Currency in 2025 and received conditional approval in January 2026.

The expansion represents an important geographic shift for a company whose growth has largely been built across Brazil, Mexico and Colombia. Alongside the US banking launch, Nu launched Nu Global, a multi-currency account that uses Circle's USDC and EURC stablecoins to support international transfers across more than 35 countries.

#### FROM LATIN AMERICAN CHALLENGER TO GLOBAL PLATFORM

Nu said the launches mark a strategic step in its evolution from a Latin American leader to a global digital banking platform. In Brazil it is the largest private financial institution and serves more than 60% of the adult population; in Mexico it is the largest digital bank; and in Colombia it ranks fourth by deposits.

Nu cited BCG estimates that US retail banking revenues reached about $1.2 trillion in 2024 and are expected to approach $1.4 trillion by 2029.

The Nu Account offers a 3.50% annual percentage yield, and the Nu Credit Card, issued through an exclusive relationship with Mastercard, carries no annual fee and offers 1.5% cashback; Nu Global is aimed at people with “global lives”, the company said.

#### STABLECOINS MOVE CLOSER TO MAINSTREAM BANKING

In Nu Global, all deposits are converted into USDC or EURC, stablecoins pegged to the US dollar and the euro, earning a daily yield of 3.50% APY and 2.20% APY respectively, and the account is paired with a virtual Mastercard card.

Customers can send and receive money free of charge across more than 35 countries, starting with Europe and Latin America, and can also hold and trade a curated selection of digital assets including Bitcoin and Ethereum.

#### WHY IT MATTERS

“We want to earn the place of being people's primary banking relationship, and capturing even a small share of the U.S. market will be transformative for our business,” said Cristina Junqueira, Nu co-founder and chief executive of Nu US.

Founder and chief executive David Vélez called the US launch “the first milestone of a multi-decade journey of positioning Nu as the leading digital bank in the world”.