Nubank launches high-yield savings account, credit cards, remittances in the US
NU•Products and bank-charter progress
Nu is partnering with FDIC-insured Lead Bank to provide deposit accounts with a 3.50% yield, as well as money transfers and a no-fee credit card with 1.5% cashback.
Nubank's bank charter was conditionally approved by the OCC in January and now is going through the approval process by the Federal Reserve and FDIC. Nubank co-founder Cristina Junqueira said during the launch event in Miami the bank will start operating next year. In the interim, Nubank will operate through a partner-bank model.
Customers may also trade digital assets, including bitcoin and ethereum.
Nubank to launch U.S. financial products through bank partners
Brazilian digital bank Nubank NU.N will start offering financial products in the U.S. on Wednesday through bank partners, it announced in a securities filing.
The initial products will be high-yield savings accounts, credit cards and remittances for its U.S. bank, CEO David Velez and Nubank co-founder and CEO in the U.S. Cristina Junqueira said during an event in Miami.
