Nu launches US digital bank with deposits convertible to USDC and EURC
- —Nu entered the US market through partner bank Lead Bank, insured by the FDIC
- —Nu Global converts deposits into USDC or EURC and operates in 35+ countries
- —Nu has no US banking license of its own yet and is awaiting approval
- —Nu serves more than 140 million clients in Brazil, Mexico and Colombia
Why it matters: A major digital bank is embedding stablecoins into ordinary deposit products, intensifying competition with traditional banks.
Source: The Cryptonomist (IT)