Crypto
Nu Expands Global Reach with US Banking Services and Stablecoin Accounts
Nu has expanded its services to include US accounts and transfers through partner bank Lead Bank. The company's global stablecoin-based account, Nu Global, converts balances into USDC or EURC across over 35 countries.
The US offering includes a high-yield savings account with a 3.50% APY, as well as a debit card and Mastercard credit card with unlimited 1.5% cashback. Customer deposits remain at FDIC-insured Lead Bank due to Nu's national bank charter still pending final approval.
Nu received conditional OCC approval for its proposed US national bank in January, but requires Federal Reserve and FDIC approvals before operating independently. The company's shares gained as much as 1.6% after the US launch announcement.