Nubank Launches US Banking With A Stablecoin Account Before Its Charter Clears – Startup Fortune

Nubank has entered the US consumer banking market ahead of its own federal bank charter, launching on September 10, 2026 through a sponsor-bank partnership. Deposits for the new Nu Account are being held by FDIC-insured Lead Bank, while Nubank operates the customer-facing app, card, and servicing. In parallel, the company unveiled Nu Global, a multi-currency product built around USDC and EURC stablecoins for cross-border payments and everyday spend across more than 35 countries.

What’s launching in the US

The flagship Nu Account starts at 3.50% APY with no minimum balance. Customers who also use Nubank’s new no-fee Mastercard and make three or more purchases every 34 days can raise the rate to 4.50% APY. That positions the account competitively versus rates on many standard checking and savings products from established US providers, while keeping fees out of the way.

Because Nubank’s own national bank charter isn’t active yet, Lead Bank—a Kansas City–based, FDIC-insured institution—custodies deposits and handles the regulated backbone. Nubank manages the app experience, onboarding, and customer relationship. It’s a well-worn banking-as-a-service model that lets fintechs launch quickly while they work through longer regulatory timelines.

Nu Global: Stablecoin balances and cross-border utility

Alongside traditional deposits, Nubank introduced Nu Global, a multi-currency account that supports USDC and EURC stablecoins. The product is designed for international use and rapid value transfer, pairing blockchain settlement with familiar card rails via a virtual Mastercard.

• Stablecoin yields: 3.50% APY on USDC balances and 2.20% APY on EURC.
• Coverage: Money movement across 35+ countries at launch, with an emphasis on Europe and Latin America.
• Transfers: Near-instant stablecoin settlement compared with the typical multi-day window for traditional cross-border wires.
• Remittances: Fee-free corridors to Brazil, Mexico, and Colombia—the company’s core Latin American markets—with more routes to follow.

The approach makes stablecoins a practical option for everyday finance—saving, sending money to family abroad, and spending across borders—inside a single consumer app experience.

Why launch before the charter

Nubank applied for a national bank charter with the Office of the Comptroller of the Currency in 2025 and received conditional approval in January 2026. The full charter is expected to activate in 2027. Rather than wait, Nubank chose to start serving US customers now by partnering with an existing licensed bank. This lets the company build deposits, refine its product, and grow brand familiarity while the remaining regulatory steps proceed.

The strategy differs from the path taken by some earlier US neobanks that paused growth until they secured their own charter. By contrast, Nubank is running both tracks at once: operating through a sponsor bank today and preparing to transition to Nubank N.A. when its chartered entity goes live.

Who Nubank is targeting

Nu Holdings counts more than 100 million customers across Brazil, Mexico, and Colombia, giving it a large diaspora audience in the United States that already recognizes the brand. For immigrants who regularly send money home or split time between countries, Nu Global’s stablecoin rails and the Nu Account’s yields aim to solve specific pain points—slow remittances, card acceptance abroad, and fragmented financial tools for cross-border life.

While the US banking field is crowded, Nubank’s pitch is less about displacing the biggest incumbents and more about serving an underserved customer with better rates, lower fees, and faster international money movement.

Regulatory path and what customers can expect

Final approvals from the OCC, FDIC, and Federal Reserve are still required before Nubank N.A. can operate as a fully chartered bank. Until then, deposits remain with Lead Bank under its existing supervision and insurance framework. As the chartered entity comes online, Nubank is positioned to migrate accounts and services without disrupting customer access or changing the app experience.

In the meantime, the sponsor-bank setup provides the same essential protections of an FDIC-insured institution for dollar deposits, while stablecoin balances in Nu Global operate on blockchain rails with clearly disclosed yields and functionality.

The bigger picture: Stablecoins as an operating layer

Stablecoins have evolved into a significant segment of digital finance, with the market growing into the hundreds of billions of dollars as payments, treasury, and settlement use cases expand. The opportunity increasingly centers on building compliant, consumer-friendly interfaces that connect traditional banking safeguards with faster, programmable money movement. Nubank’s US entry embraces that direction: pairing an insured deposit account and a mainstream card with stablecoin balances designed for international speed and reach.

Bottom line

Nubank’s US launch delivers high-yield deposits, a no-fee card incentive, and a multi-currency stablecoin account before its own charter becomes active—thanks to a sponsor-bank partnership. For cross-border consumers, especially those with ties to Latin America, it’s a practical blend of bank-grade custody and near-instant blockchain transfers. If regulators clear Nubank N.A. as expected in 2027, the company will already have a US foothold—and a differentiated payments rail—ready to scale.