Home / Business and Economy / Nu Digital Bank Launches US Operations
Nu Digital Bank Launches US Operations
11 Sep
Summary
- Nu is now operating in the US, offering daily banking products.
- Nu Global provides fee-free international transfers across 35 countries.
- US accounts offer 3.50% APY on balances and FDIC-insured deposits.
Digital bank Nu has commenced operations in the United States, introducing a range of financial products tailored for day-to-day banking. The company also launched Nu Global, a multi-currency digital account aimed at customers managing international finances, featuring fee-free transfers across more than 35 countries.
In the US market, Nu is offering the Nu Account, which provides a 3.50% APY on balances, with interest calculated and paid daily. Deposits are secured through Nu's FDIC-insured partner, Lead Bank. The account includes a metal debit card, savings goals with immediate fund access, and complimentary local and international transfers.
Nu Global is linked to a virtual Mastercard for international spending without markups and allows users to send and receive money across numerous countries. Future plans include integrations with Brazil, Colombia, Mexico, and the US, alongside the ability for customers to hold and trade select digital assets like Bitcoin and Ethereum.
Nu founder and CEO David Vélez expressed excitement about this expansion, stating, "This is the next chapter of something we started thirteen years ago in a small house in São Paulo." He believes that consumer-obsessed digital banking is the future, a hypothesis proven with over 140 million customers in Latin America.
