Nubank Launches US Banking Services Before Charter Approval

Nubank has launched its consumer banking services in the United States before it receives a bank charter, using a partner-bank model to offer a stablecoin account.

The company's new product, Nu Account, pays an annual percentage yield (APY) of 3.50% with no minimum balance requirement, and can climb to 4.50% APY on up to $10,000 if customers also hold the no-annual-fee Nu credit card and make at least three eligible transactions.

Nubank's US deposits are being provided through FDIC-insured Lead Bank while it works through the charter process, which includes final authorization from the Federal Reserve and FDIC. The OCC granted preliminary conditional approval for Nubank, National Association in January 2026, but this is not a guarantee of a bank charter.

The stablecoin account, Nu Global, allows customers to hold USDC and EURC, dollar and euro pegged stablecoins issued by Circle, with APYs of 3.50% on balances converted into USDC and 2.20% APY on balances converted into EURC. The account also comes with a virtual card for global spending and money movement across more than 35 countries.