Crypto
Nubank's Stablecoin-Powered Finance Revolutionizes Cross-Border Transfers
Nubank has launched Nu Global, a multi-currency digital account that simplifies international transfers and spending. This move marks a significant shift towards stablecoin-powered finance.
The Brazilian fintech giant offers USDC and EURC coins through Circle, allowing users to swap deposits in local currency for dollar and euro balances. Transfers can be made to over 35 countries, with plans to expand to Brazil, Colombia, Mexico, and the USA.
Nu Global's system is simple: users deposit local currencies and can exchange them for USDC or EURC. USDC earns a 3.50% APY, while EURC earns 2.20% APY.