Nu Expands to US Market with Competitive Banking Services
Nu, one of the world's largest digital financial platforms, has expanded its services to the US. The company has launched US deposit accounts, credit cards, and international transfers through FDIC-insured partner Lead Bank.
The Nu Account pays a variable 3.50% annual percentage yield (APY), while its debit card comes with no fees. A Mastercard credit card also offers unlimited 1.5% cashback on purchases, although this rate is expected to increase to 2% for eligible customers.
Nu's US services are initially available online and come with a limited-edition metal debit card. The company has partnered with Circle to integrate its stablecoins, USDC and EURC, into the Nu Global product. This allows customers to hold and transfer funds across more than 35 countries without incurring service fees.