The digital bank partners with Lead Bank to offer FDIC-insured deposits.
Nubank formally started operations in the United States on 10 September. The launch marks a new step in the international expansion strategy that the company has implemented in recent years.
The fintech now offers a US account with deposits held at Lead Bank. Lead Bank is a financial institution covered by the Federal Deposit Insurance Corporation (FDIC).
Nubank announced the move at Nu Stadium, the home venue of soccer club Inter Miami. The company secured a naming rights agreement with the team earlier this year.
Today, we are launching NU in the US.
Earlier this year, the Office of the Comptroller of the Currency (OCC) granted conditional approval for Nubank to establish a national bank in the United States. Final authorization still depends on approval from the Federal Reserve and other regulatory agencies. The company expects this step to conclude by next year.
We want to go further in the next decade. We want to continue building and taking our banking model to the US and beyond.
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