Nu launches US services with stablecoin accounts

• Nu has launched US accounts, cards and transfers through partner bank Lead Bank.
• Nu Global converts balances into USDC or EURC across 35+ countries.
• Nu’s own US bank charter remains conditional pending further approvals.

Nu has launched US banking products through Lead Bank while introducing a stablecoin-based account for international customers.

The US offering includes a 3.50% APY account, debit card and Mastercard credit card with unlimited 1.5% cashback.

Nu Global converts customer deposits into USD Coin (CRYPTO:USDC) or EURC and supports transfers across more than 35 countries.

The company’s US account deposits remain at FDIC-insured Lead Bank because Nu’s national bank charter has not received final approval.

Nu received conditional OCC approval for its proposed US national bank in January, but still needs Federal Reserve and FDIC approvals before operating independently.

Nu Global offers variable yields of 3.50% APY on USDC balances and 2.20% on EURC, although Nu has not disclosed how those yields are generated.

Nu reported US$1.06 billion in second-quarter net income, while its shares gained as much as 1.6% after the US launch announcement.