Nu Holdings launches US operations and multi-currency account

Nu Holdings started operations in the United States on 10 September. Company founders Cristina Junqueira, head of US operations, and David Vélez, global CEO of Nubank, announced the expansion during an event at Nu Stadium in Miami. The launch tests the digital banking model that brought the company to a valuation of $72.5 billion, or about R$ 370 billion.

In the United States, Nubank targets between 100 million and 150 million underbanked or unbanked individuals, alongside a Hispanic population exceeding 80 million. According to company executives, one US customer generates the revenue equivalent of roughly 10 customers in Brazil. In its home market, the bank averages $17 in revenue per customer compared to $45 at the top five Brazilian banks. Nubank serves around 118 million customers in Brazil, 15.8 million in Mexico, and 5 million in Colombia, reaching 139 million clients globally in June.

The US offering, operated via Lead Bank ahead of a full national bank charter conditionally approved in January 2026, provides an account yielding 3.5% annually, which can rise to 4.5% on savings up to $10,000, or R$ 51,000. Through an exclusive Mastercard partnership, it includes an annual-fee-free credit card offering 1.5% unlimited cashback, expandable to 2%. Junqueira noted that Nubank's average cost to serve stands at $1 per client, compared to over $20 at major US banks. Concurrently, the firm introduced Nu Global, a fee-free digital account across more than 35 countries offering yields of 3.50% on USDC and 2.20% on EURC, along with trading in digital assets such as Bitcoin and Ethereum.

On the New York Stock Exchange, shares of Nu Holdings rose 0.13% to close at $15.02 following the announcement.