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Nubank just made its biggest bet on crypto rails yet. The Brazilian fintech giant, which serves over 140 million customers, has launched Nu Global, a multi-currency digital account that converts user deposits into Circle’s USDC and EURC stablecoins and uses them as the backbone for international transfers.
The product went live on September 10, offering fee-free transfers across more than 35 countries with initial focus on Europe and Latin America. It also marks Nubank’s formal entry into the US market, where it has partnered with FDIC-insured Lead Bank while pursuing its own national bank charter.
How Nu Global actually works
The core mechanic is straightforward: users deposit local currency, and Nu Global converts it into stablecoins. USDC handles dollar-denominated balances, while EURC covers euros. Those stablecoin balances earn daily yield, with USDC paying 3.50% APY and EURC paying 2.20% APY.
The account comes with a virtual Mastercard for global spending, meaning users can tap into their stablecoin balances at merchants worldwide without needing to manually convert anything. Users can also hold and trade a curated selection of digital assets within the app, including Bitcoin and Ethereum, alongside their stablecoin positions.
This isn’t Nubank’s first foray into stablecoins. The company already offered USDC functionality through NuCrypto, its Brazil-based crypto service. Nu Global extends that foundation into a fully integrated international banking product rather than a standalone crypto feature.
The US play and banking charter ambitions
The partnership with Lead Bank, which carries FDIC insurance, provides a regulatory bridge while Nubank works toward its own national bank charter. The company received preliminary conditional approval for that charter in January 2026, a process that typically involves extensive regulatory scrutiny from the Office of the Comptroller of the Currency.
CEO David Vélez has framed Nu Global around the concept of “borderless lives,” targeting the millions of people who live, work, or have financial obligations across multiple countries.
What this means for Circle and stablecoin adoption
The yield offerings on stablecoin balances also deserve attention. A 3.50% APY on USDC is competitive with many US high-yield savings accounts, and it comes wrapped in a product that offers international functionality those accounts can’t match. The 2.20% APY on EURC, while lower, reflects the European Central Bank’s rate environment.
The key markets in Nu Global’s initial rollout, Brazil, Colombia, Mexico, and the US, represent some of the highest-volume remittance corridors in the Western Hemisphere.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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