Nu Makes U.S. Banking Push as New Global Account Turns Deposits Into USDC and EURC

Nu has expanded its financial portfolio to include two products for U.S. and international customers: a bank account and a global account backed by a stablecoin.

The products were announced on 10 September, with the company saying that access would be offered gradually rather than to all applicants at once.

In the United States, Nu is offering the account through financial institution Lead Bank, as its own national bank charter is still subject to approval. The account offers a 3.50% annual percentage yield with interest paid daily.

Lead Bank also holds customer deposits and provides Federal Deposit Insurance Corporation insurance under certain limits and eligibility guidelines, although Nu itself is a financial technology company, not a bank.