Overview
- Nu began formal U.S. operations on Thursday and is offering deposit accounts, a metal debit card and a Mastercard credit product through a partnership with Lead Bank, an FDIC member.
- Nu Global is a preregistered multidivisa account hosted with Swiss digital-asset partner Sygnum that converts deposits into USDC or EURC stablecoins and advertises 3.5% APY on dollars and 2.2% APY on euros.
- The company says it will enable real-time, no-fee international transfers initially between the United States, Mexico, Brazil and Colombia and plans progressive integrations to expand corridors and Europe connections.
- Nu is operating in the U.S. under a conditional OCC approval while using partners for deposits and crypto custody as it evaluates when and where to pursue full local banking licences.
- The launch targets immigrants and cross-border customers by using Nu’s data and AI built from about 140 million Latin American users to speed credit decisions and to pressure remittance costs and FX margins.