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.
