Nu Holdings Launches 3.50% APY Accounts and Credit Cards in the U.S.
Latin American digital banking giant Nu Holdings has officially entered the U.S. consumer market with a 3.50% APY account and a no-annual-fee credit card.
American retail depositors looking for better yields on their cash have a new, multi-billion-dollar challenger to consider. On September 10, 2026, Latin America's largest digital bank, Nu Holdings, officially commenced consumer operations in the United States. The company is rolling out a competitive suite of products, including a deposit account offering a 3.50% annual percentage yield (APY) and a no-annual-fee credit card featuring 1.5% cashback.
The expansion marks the first major push outside of Latin America for the São Paulo-based fintech, which has already amassed more than 140 million customers across Brazil, Mexico, and Colombia. To bypass the lengthy process of establishing a standalone U.S. bank, Nu Holdings is launching its domestic services through a partnership with Kansas City-based, FDIC-insured Lead Bank. This partner-bank model allows the company to secure customer deposits up to regulatory limits while it works to finalize its own federal credentials.
Nu Holdings is also targeting the growing intersection of traditional finance and digital assets with a secondary product called Nu Global. This multi-currency account allows users to convert deposits into dollar-pegged (USDC) and euro-pegged (EURC) stablecoins, yielding 3.50% and 2.20% APY respectively. The platform supports fee-free transfers across more than 35 countries, aiming directly at the lucrative international remittance corridors between the U.S., Europe, and Latin America.
The aggressive northern expansion follows a historic financial milestone for the digital lender. According to its second-quarter earnings report released on August 13, 2026, Nu Holdings surpassed $1 billion in quarterly net income for the first time, posting $1.06 billion in profit on $5.9 billion in revenue. This rapid growth has been fueled by a highly efficient, branchless business model that keeps operating costs at roughly $1 per customer per month.
While the company received preliminary conditional approval for a U.S. national bank charter from the Office of the Comptroller of the Currency (OCC) in January 2026, full regulatory clearance from the Federal Reserve and the FDIC is still pending. Company executives expect their independent banking subsidiary, Nubank N.A., to begin formal operations in 2027. Until then, Chief Financial Officer Rob Livingston noted on the Q2 2026 earnings call that fine-tuning the company's proprietary credit and risk models for the U.S. consumer market will take between 12 and 30 months.
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For investors tracking global fintech adoption, Nu Holdings is listed in New York on the New York Stock Exchange under the parent name Nu Holdings Ltd. The stock is also a prominent holding in several emerging market and financial technology exchange-traded funds, such as the ARK Fintech Innovation ETF.