Brazil's Nubank, the largest digital bank in Latin America, launches a fixed 4% annual return for holders of the stablecoin USDC.
New Return for USDC Holders
Nubank has announced a program offering a fixed 4% annual return for users holding Circle's stablecoin, USD Coin (USDC). The offer was initially tested with a small group and is now available to all bank users.
Requirements and Feature Management
To benefit from the new feature, customers must maintain a minimum balance of 10 USDC in their crypto wallets. Returns are credited daily, and funds can be accessed instantly. Users can activate or deactivate the feature anytime through the Nubank app.
Nubank's Crypto Service Development
Nubank is actively expanding its cryptocurrency offerings. In November 2024, a crypto swap tool was introduced, allowing users to trade Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for USDC. Nevertheless, not all initiatives were smooth. For example, in September 2024, the bank halted trading its Nucoin token due to market volatility. Despite this, Nubank continues to enhance its cryptocurrency capabilities, including supporting transactions via the Bitcoin Lightning Network.
The launch of a 4% fixed annual return for USDC users underscores Nubank's commitment to strengthening its presence in the cryptocurrency market and offering attractive conditions for its clients.
