Nu launches in US with multi-currency Global account

Nu has started operations in the United States and launched Nu Global, a multi-currency account. The move takes the Latin American digital bank beyond its core region.

It is introducing a range of everyday banking products in the US, including a current account and a credit card, alongside an account for customers who move money across borders.

The US launch marks a significant step for the company, which built its business in Brazil, Mexico and Colombia. Nu says it now serves more than 140 million customers across Latin America and has reported quarterly net income of more than USD $1 billion.

Founder and CEO David Vélez linked the expansion to the company's longer-term ambitions beyond the region where it was established.

"This is the next chapter of something we started thirteen years ago in a small house in São Paulo. Since our founding, we have believed that consumer-obsessed digital banking is the future of retail banking globally, and after proving this hypothesis with over 140 million fanatical customers in Latin America, we are excited to start executing our thesis beyond our core region," Vélez said.

"More than a decade of unwavering commitment to customers, disciplined growth, profitable execution, and a business built to scale is what gives us the confidence to take this next step now. This is the first milestone of a multi-decade journey of positioning Nu as the leading digital bank in the world," he added.

US rollout

Nu is entering a retail banking market that generates about USD $1.2 trillion in revenue, according to figures it cited from BCG. It also pointed to estimates that consumers in the country pay USD $82 billion in fees each year.

The initial US product set includes the Nu Account, which offers 3.50% APY with interest paid daily. Deposits are held at partner Lead Bank, and the account includes savings goals, a metal debit card, and local and international transfers without fees, starting with Brazil, Mexico and Colombia.

Customers will also have access to a Nu Credit Card issued through Mastercard. The card has no annual fee and offers 1.5% cashback on purchases, with a limited-edition metal card for early users.

Co-Founder and CEO of Nu US Cristina Junqueira said the company wants to become a primary banking provider for customers, not a niche product.

"The combination of our customer centricity and our fully mobile banking model allows us to pass on efficiencies straight back to our customers, all in service of building the best everyday mobile banking solution," Junqueira said.

"Our customers will enjoy high yield on their account, a metal credit card with unlimited cashback, and fast domestic and international payments, with no fees and in a single beautifully designed app, backed by award-winning support. We want to earn the place of being people's primary banking relationship, and capturing even a small share of the U.S. market will be transformative for our business," she added.

Nu has applied for a national bank charter with the Office of the Comptroller of the Currency and received conditional approval earlier this year. For now, it is launching through a partner bank model while it begins serving customers and collecting feedback.

Global account

Alongside its US market entry, Nu introduced Nu Global, a multi-currency digital account for people with cross-border financial needs. The account allows users to send and receive money across more than 35 countries, starting with Europe and Latin America.

All deposits in the product are converted into digital dollars, known as USDC, or digital euros, known as EURC. Those balances earn daily yields of 3.50% APY for USDC and 2.20% APY for EURC, and the account includes a virtual Mastercard card for international spending.

The product also lets customers hold and trade selected digital assets, including Bitcoin and Ethereum. Nu says the account is managed through its app and supported by multilingual customer service available around the clock.

Vélez said the account was designed to address the cost and complexity that often come with moving money between countries.

"Entering the U.S. is a strategic step in Nu's evolution into a global digital financial services platform. But building that platform also means looking beyond any single market to problems that are universal," Vélez said.

"Today, more and more people have borderless lives, and money is often the hardest part to juggle: multiple apps, confusing exchange rates, long waits, and high fees. That's where the idea of Nu Global came to life. A product that brings the Nu experience into international money management, with the simplicity and efficiency of technology put in favor of customers at a global scale," he added.

Nu cited World Bank data showing that more than 300 million people live and work across borders each year, with an estimated USD $800 billion moved internationally in 2025 alone. It said transfer fees and exchange-rate margins can absorb about 6% of that money.

Nu's push into the US follows its strong position in Brazil, where it says it serves more than 60% of the adult population. In Mexico, it describes itself as the largest digital bank, while in Colombia it says it is the fourth-largest financial institution by deposits.

Its latest quarter underpinned the expansion effort, with the group reporting a customer base of more than 140 million and return on equity above 32%.