Nu Enters US Banking Market through Lead Bank Partnership

Nu, Latin America's largest digital bank, has launched its U.S. banking operation through Lead Bank while awaiting final approval for its own national bank charter.

The company offers a range of products, including deposit accounts, debit cards, and credit cards, with interest rates up to 3.50% APY on available dollar balances. The U.S. account also features a limited-edition metal debit card and international transfers to Brazil, Mexico, and Colombia, with plans to add more countries in the future.

Nu's Mastercard World Elite credit card carries no annual fee and pays 1.5% unlimited cashback. Future account features include a 4.50% APY savings goal capped at $10,000 for customers who pair the deposit account with the credit card and complete qualifying transactions.

The company has also launched Nu Global, a global account that converts customer funds into stablecoins USDC or EURC. The account offers an advertised 3.50% APY on USDC balances and 2.20% APY on EURC balances, with daily accruals. Users can hold and trade a limited selection of digital assets through the same app.