Nu Enters US Banking Market with Digital Account and Stablecoin Service

Nu has entered the US retail banking market, offering a deposit account and credit card through its partner bank Lead Bank. The Nu Account comes with a base yield of 3.50% APY on available balances, while deposits are held by FDIC-insured Lead Bank rather than directly by Nu.

The company's expansion into the US market is significant, given that annual retail banking revenue in the country reached $1.2 trillion in 2024 and is projected to approach $1.4 trillion by 2029, according to BCG estimates cited by Nu.

Nu Global, a separate offering, targets customers who regularly manage money across borders by converting deposits into USDC or EURC stablecoins, which earn interest at rates of 3.50% APY and 2.20% APY respectively.