Nu Launches U.S. Banking Platform as Miami Becomes Key Hub for Global Expansion

After building one of Latin America’s largest fintech companies, Nu (NYSE: NU) is turning its sights to the United States and beyond.

Founded in 2013 in São Paulo, Brazil, Nu is a digital financial services platform that now serves more than 140 million customers. Historically, Latin America has been the company’s primary focus. Now, Miami is playing an important role in the company's expansion into the United States.

Nu serves more than 60% of Brazil’s adult population and is the largest digital bank in Mexico. In Colombia, Nu ranks as the country’s fourth-largest financial institution by deposits and leads the market in growth and credit card issuance.

The company enters this next stage of expansion following a record quarter in which quarterly net income surpassed $1 billion and return on equity exceeded 32%.

“This is the next chapter of something we started thirteen years ago in a small house in São Paulo,” said David Vélez, Co-Founder and CEO of Nu. “This is the first milestone of a multi-decade journey of positioning Nu as the leading digital bank in the world.”

For South Florida, Nu's expansion brings one of Latin America's most prominent financial technology companies into a region that has long served as a bridge between the United States and Latin America.

Nu Brings Its Digital Banking Model to the U.S.

Nu has officially started U.S. operations with a suite of financial products designed around customers' everyday banking needs.

The company enters an enormous market. U.S. retail banking revenues reached approximately $1.2 trillion in 2024 and are expected to approach $1.4 trillion by 2029, according to Boston Consulting Group figures cited by Nu. At the same time, banks and other financial institutions charge U.S. consumers an estimated $82 billion in fees each year.

Nu is initially entering the market through a partner-bank model. Banking services and the Nu Credit Card are provided through Lead Bank, which is a member of the FDIC.

“The combination of our customer centricity and our fully mobile banking model allows us to pass on efficiencies straight back to our customers, all in service of building the best everyday mobile banking solution,” said Cristina Junqueira, Co-Founder and CEO of Nu U.S.

The Nu Account offers 3.50% APY, with interest calculated and paid daily based on available balance. Deposits are held at Lead Bank. The account also includes a limited-edition metal debit card, savings goals and domestic and international money transfers with no fees. International transfers initially include Brazil, Mexico and Colombia, with additional countries expected to follow.

Customers will soon be able to increase their yield to 4.50% APY on a savings goal of up to $10,000 by pairing the account with the Nu Credit Card and meeting qualifying transaction requirements. Through a relationship with Mastercard, the Nu Credit Card carries no annual fee and offers unlimited 1.5% cash back on purchases, with qualifying customers eventually able to increase that rate to 2%.

Nu Is Working Toward Its Own U.S. National Bank

Nu applied for a national bank charter with the Office of the Comptroller of the Currency in September 2025 and received preliminary conditional approval in January 2026 to establish Nubank, National Association.

The conditional approval does not yet allow Nu to operate independently as a national bank. Additional regulatory requirements must be completed before the bank can open under its own charter.

Launching through Lead Bank allows Nu to begin serving customers and gathering feedback while it continues that process. The strategy effectively gives Nu two paths into the market: begin building a U.S. customer base now while developing the regulatory infrastructure for a longer-term banking presence.

Nu Global Targets an Increasingly Borderless Economy

Alongside its U.S. banking launch, the company announced Nu Global, a multicurrency digital account designed for people whose financial lives increasingly cross borders.

“Today, more and more people have borderless lives, and money is often the hardest part to juggle: multiple apps, confusing exchange rates, long waits, and high fees,” said Vélez.

More than 300 million people live outside their countries of birth, while an estimated $800 billion moved internationally in 2025, according to World Bank data cited by Nu.

Unlike the U.S. Nu Account, Nu Global incorporates stablecoins into its financial infrastructure. Deposits are converted into digital dollars (USDC) or digital euros (EURC), stablecoins designed to track the value of the U.S. dollar and euro.

Nu Global offers 3.50% APY on digital dollars and 2.20% APY on digital euros. Customers can send and receive money across more than 35 countries and use a virtual Mastercard for international spending. The platform also allows customers to hold and trade a curated selection of digital assets, including Bitcoin and Ethereum.

By combining international payments, multicurrency accounts, stablecoins and digital assets within one platform, Nu is extending its digital-first financial model beyond any single country's banking system.

Why South Florida Matters to Nu's Expansion

According to eMerge Americas' 2025 Annual Insights Report, Florida startups attracted $5.83 billion across 575 venture deals in 2025, with South Florida accounting for 71% of the state's venture capital dollars. Fintech led Florida sectors with approximately $1.22 billion in venture investment. Other financial technology companies have also been increasing their presence in the region.

Stablecoin Development Corporation relocated its headquarters from California to downtown West Palm Beach in July 2026, while German technology investment firm PRIMEPULSE established its U.S. operations in Fort Lauderdale. Nu brings a different level of scale to that trend.

With more than 140 million customers before its U.S. launch, Nu is bringing an established international technology platform and network to the region rather than arriving as an early-stage startup. Its focus on international payments also aligns naturally with South Florida's cross-border population and business community.

For decades, South Florida has been described as a gateway from the United States to Latin America. Nu's expansion demonstrates how that relationship increasingly works in the opposite direction: South Florida can also serve as a gateway for Latin American technology companies entering the United States.

Nu Was Building Its Miami Presence Before Launch

Nu began establishing its visibility in Miami months before officially launching its U.S. banking products. In March 2026, the company announced a multiyear partnership with Inter Miami CF, becoming a Main Partner of the club and securing naming rights to Inter Miami's new 26,700-seat home at Miami Freedom Park: Nu Stadium.

“Nu Stadium will anchor our brand in the United States, allowing us to engage with a diverse, international community as we build the most influential consumer technology platform in the world,” Junqueira said when the partnership was announced.

Beyond naming rights, Nu's logo appears on the back of Inter Miami CF's jersey, and the company anchors Nu Club, a 770-person premium hospitality lounge, and Nu Plaza, a community gathering space within Miami Freedom Park.

The timing provides a glimpse into Nu's broader strategy. The company filed for its U.S. national bank charter in September 2025, received preliminary conditional approval in January 2026, announced the Inter Miami partnership and Nu Stadium in March, and has now officially begun offering financial products to U.S. consumers.

Together, those moves show that Miami is becoming more than a branding market for Nu. It is part of the company's larger strategy for introducing itself to U.S. consumers. For South Florida, Nu's expansion is another indication that the region's role as a gateway to Latin America is becoming a two-way street.

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