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Nu has expanded its financial portfolio to include two products for U.S. and international customers: a bank account and a global account backed by a stablecoin. The products were announced on 10 September, with the company saying that access would be offered gradually rather than to all applicants at once.
In the United States, Nu is offering the account through financial institution Lead Bank, as its own national bank charter is still subject to approval. The account offers a 3.50% annual percentage yield with interest paid daily.
Lead Bank also holds customer deposits and provides Federal Deposit Insurance Corporation insurance under certain limits and eligibility guidelines, although Nu itself is a financial technology company, not a bank.
Other features offered under the U.S. package include a metal debit card and free domestic transfers. International transfers are currently enabled between Brazil, Mexico, and Colombia.
The Mastercard World Elite credit card has no annual fee and offers 1.5% unlimited cashback. Nu has said that its offerings include 2% cashback and a 4.50% APY savings goal for eligible customers, capped at a maximum of $10,000 of total funds. These offers are not yet available.
Nu Global, a Swiss-regulated entity by the name of Nu Global AG, operates on a different model by converting customer deposits into USDC▼$0.9998 or EURC by Circle. The company advertises an APY of 3.50% for USDC balances and 2.20% for EURC balances, both of which are accrued daily.
No indication has been given by Nu as to whether either of the aforementioned APY yields would be guaranteed for any period of time or how those yields would be generated.
Global account customers receive a virtual Mastercard that can be used for purchases and transactions in over 35 countries. Currently, the routes are between Europe and Latin America, but routes connecting to Nu operations in Brazil, Colombia, Mexico and the United States are being planned.
The app will support other digital assets, including <a href="https://xpertsstudio.com/<a href="https://xpertsstudio.com/bitcoin-etfs-lose-463m-as-ether-funds-gain-197m/” title=”Bitcoin ETFs Lose $463M as Ether Funds Gain $197M”>bitcoin-consolidation-persists-near-78k-resistance/” title=”Bitcoin: Consolidation Persists Near $78K Resistance”>Bitcoin and Ethereum, but Nu has not released a list of supported assets or networks, nor its withdrawal policy.
Nu Global AG is affiliated with VQF, a self-regulatory organization recognized by the Swiss financial regulator, FINMA. Nu claims that Nu balances are covered by a Swiss bank default guarantee, where required by law.
It differs from FDIC deposit insurance by not specifying the guaranteeing institution, a specified amount of coverage, or how stablecoin-value changes will be handled.
Meanwhile, Nu’s organization application for its proposed Nubank National Association is pending before the OCC. The agency preliminarily approved the application conditionally in January 2026, but that approval does not authorize the proposed bank to commence operations.
However, Nu must still satisfy pre-opening requirements, including obtaining FDIC insurance and other regulatory approvals, before receiving final approval.
This dual launch gives Nu a foothold in the U.S. through Lead Bank while also implementing its international strategy with stablecoins.
Over 140 million customers currently in its markets will gradually gain access to both new offerings once available. Several higher-yield transfer and rewards features remain to be rolled out in future releases, which will be phased.
Source: bitcoinfoundation.org