Nubank launched in the United States on Thursday and put stablecoins at the center of its international expansion. Alongside its U.S. banking debut, the Brazilian company introduced Nu Global, a multi-currency account that converts customer deposits into USDC and EURC, stablecoins pegged to the dollar and the euro. Nu Global pays 3.50% APY on dollar balances and 2.20% on euro balances, with interest calculated daily. Customers can send and receive money across more than 35 countries without transfer fees, starting with Europe and Latin America, with Brazil, Colombia, Mexico and the U.S. planned next. They can also hold and trade bitcoin and ethereum in the same app. The target market is remittances. More than 300 million people live and work across borders and moved an estimated $800 billion internationally in 2025, according to World Bank data. They lose about 6% of that to fees and exchange-rate margins on transfers that can take days to arrive. “Our vision is world remittances should look like Pix,” founder and CEO David Vélez told Bloomberg. “The future of payments globally will be Pix.” Pix is the instant payments system run by Brazil’s central bank. Related: ARK Invest says only two stablecoins have scale Nubank is the largest digital bank in Latin America, with more than 140 million customers across Brazil, Mexico and Colombia. It serves over 60% of Brazil’s adult population, and its quarterly net income topped $1 billion in its most recent quarter. Warren Buffett’s Berkshire Hathaway was one of the company’s best-known early backers, investing $500 million months before its December 2021 IPO. Berkshire sold its entire stake in early 2025, SEC filings show. The U.S. business runs through Lead Bank, an FDIC-insured partner, with a deposit account paying 3.50% APY and a no-annual-fee Mastercard credit card with unlimited 1.5% cashback. Nu received conditional approval for a national bank charter from the Office of the Comptroller of the Currency in January 2026 and plans to operate under its own license once the process is complete. This story was originally published by TheStreet on Sep 13, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
