Nu Enters US Market, Launches Nu Global Digital Account

Nu launched daily banking operations in the United States alongside Nu Global, a multi-currency account, expanding its digital platform beyond Latin America. Supported by 2Q26 results exceeding 139 million users and full commercial banking operations in Mexico starting Aug. 2026, Nu's cross-border expansion accelerates competition across retail banking and remittances. This evolution impacts traditional banks, fintechs, and cross-border payment providers across the Americas.

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Nu, Latin America’s largest digital bank, has officially launched operations in the United States with a full suite of daily banking products, alongside the rollout of Nu Global, a multi-currency digital account designed for cross-border financial management across more than 35 countries. The dual launch marks Nu's initial expansion beyond Latin America, establishing digital retail banking infrastructure in the world's largest financial services market while offering fee-free international money movements.

Explaining the strategic shift from a regional market leader to a global digital banking platform, David Vélez, Founder and CEO of Nu, stated that consumer-centric mobile banking represents the future of global retail finance. "This is the next chapter of something we started thirteen years ago in a small house in São Paulo," Vélez said. "More than a decade of unwavering commitment to customers, disciplined growth, profitable execution, and a business built to scale is what gives us the confidence to take this next step now. This is the first milestone of a multi-decade journey to position Nu as the world’s leading digital bank."

The international expansion follows a record financial second quarter of 2026 for Nu, during which its customer base reached 139 million users across Brazil, Mexico, and Colombia. The platform generated quarterly gross revenue of nearly US$5.9 billion, net income of US$1.1 billion, achieved a return on equity of 33%, and maintained low cost-to-serve metrics. In Brazil, Nu serves over 60% of the adult population as the country's largest private financial institution, while in Colombia it ranks as the fourth-largest financial institution by deposits.

US Market Entry

Nu is entering the US retail banking sector to address high consumer fee structures, where traditional banks collect an estimated US$82 billion in annual fees. According to BCG data, US retail banking revenues grew at a 7% compound annual growth rate (CAGR) between 2019 and 2024 to approximately USD 1.2 trillion, with projections approaching US$1.4 trillion by 2029. 

"The combination of our customer centricity and our fully mobile banking model allows us to pass back directly to our customers the efficiencies gained," said Cristina Junqueira, Cofounder and CEO of Nu US. "Capturing even a small share of the US market will be transformative for our business."

The US product offering centers on the Nu Account, which provides a 3.50% Annual Percentage Yield (APY) on daily balances. Deposits are held through Lead Bank, an FDIC-insured partner. The account includes a metal debit card, targeted savings goals with instant access, and fee-free domestic and international money transfers beginning with Brazil, Mexico, and Colombia. 

Users can elevate their yield to 4.50% APY on savings up to US$10,000 by linking the account with the Nu Credit Card, an annual-fee-free card developed with Mastercard offering 1.5% unlimited cashback and World Elite benefits. In September 2025, Nu applied for a national bank charter with the Office of the Comptroller of the Currency (OCC) and received conditional approval to establish a national bank in the United States.

In parallel, Nu Global addresses cross-border financial friction for international consumers who move an estimated US$800 billion globally each year while losing an average of 6% to fees and exchange rate margins. Nu Global operates as a multi-currency account where deposits are held in digital dollars (USDC) and digital euros (EURC), earning daily yields of 3.50% APY and 2.20% APY, respectively. The account integrates a virtual Mastercard and enables fee-free transfers across more than 35 countries, alongside custody and trading features for digital assets such as Bitcoin and Ethereum.

Consolidation and Commercial Banking Launch in Mexico

Nu’s global strategy builds directly upon its structural consolidation in Mexico, its largest growth market outside Brazil. In July 2026, Nu México received full commercial banking authorization from the National Banking and Securities Commission (CNBV) and the Ministry of Finance and Public Credit (SHCP) to transition from a Popular Financial Society (SOFIPO) into a fully licensed commercial bank.

Following technical app migration, Nu México officially began operating as a commercial bank on Aug. 6, 2026. The banking charter enables Nu México to expand its deposit-taking and credit underwriting capacity across a national market where 60% of adults lack formal digital financial services. 

With 16 million active clients in 2Q26, Nu México serves 16.5% of the adult population, maintains operations across 98% of Mexican municipalities, and provided 54% of its active users with their first formal credit card. Having achieved financial breakeven in 1Q26, the Mexican subsidiary holds over US$5.9 billion in total deposits while adding approximately 12,000 new users daily.

To solidify its market position and support its commercial banking operations, parent company Nubank formalized a US$4.2 billion long-term investment commitment in Mexico extending through 2030. The allocation includes USD 2.5 billion designated specifically for capital expenditures over four years to scale digital infrastructure, expand local engineering talent, and accelerate product deployment.