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Nubank Expands into United States Market and Launches Nu Global Account

morning · · thread: Revolut Receives Conditional Approval for US Banking License

3 sources across 3 countries · Brazil · Chile · United Kingdom

Who reported this

  • Tecnoblog Brazil · Centre · Founder-owned (Thiago Mobilon)
  • La Tercera Chile · Centre-right · Copesa (Saieh family)
  • Reuters United Kingdom · Centre · Thomson Reuters Corporation

What the colours mean

  • Left
  • Centre-left
  • Centre
  • Centre-right
  • Right
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Nubank has officially started operations in the United States and launched Nu Global, a digital account that allows users to move money across more than 35 countries without fees. The company, which already operates in Brazil, Mexico, and Colombia, now offers a US account that provides a 3.5% annual yield on deposited dollars through a partnership with Lead Bank. This US offering includes a Mastercard credit card with no annual fee and 1.5% unlimited cashback, as well as services for local transfers and bill payments. Users may increase their cashback to 2% and their yield to 4.5% by meeting specific eligibility and savings goals. The Nu Global service allows for the conversion of deposits into digital dollars (USDC) and digital euros (EURC), with yields of 3.5% and 2.2% respectively. It also enables the trading of digital assets such as Bitcoin and Ethereum. While the company has applied for a banking license in the United States, it currently operates under the name Nu rather than Nubank in that market due to its current regulatory status. Founder and CEO David Velez stated that the expansion is the next chapter for the company, which now serves over 140 million customers.

How each side framed it

Centre
The center framing focuses on the technical specifications of the products and the regulatory details regarding the US banking license.
Centre-right
The center-right framing emphasizes the company's financial growth, including its net quarterly profit and return on capital.

Sources

100% of the statements in this article were traced back to the source articles listed above.