- Nubank expands its rewards program to all users in Latin America, offering daily returns on USDC holdings.
- Customers can earn a fixed annual interest rate of 4%, with a minimum balance requirement of 10 USDC.
Nubank, Latin America’s most valuable digital bank, has announced the expansion of its rewards program to include all customers in the region who hold USD Coin (USDC), the widely used stablecoin issued by Circle.
This new feature, which provides daily returns at a fixed annual interest rate of 4%, is available to users of Nubank’s cryptocurrency branch, Nubank Crypto, across Brazil, Mexico, Colombia, Argentina, and now Peru.
The decision to extend this rewards system comes after a successful pilot program conducted last year, which tested variable interest rates with a limited group of customers. According to Nubank, 30% of their customer base already holds USDC, and over half of new Nubank Crypto users have chosen USDC as their first digital asset.
The expansion is designed to integrate digital finance further into Nubank’s service offerings and promote the wider adoption of cryptocurrencies in Latin America.
To participate, users need only to access the Nubank app, select the wallet section, and click
“I want to participate.”
After activation, the rewards are credited daily, and the funds remain highly liquid, with users able to withdraw or deactivate their participation at any time. This flexible feature ensures that USDC holders can easily manage their assets while earning a stable return.
USDC, currently the second-largest stablecoin by market capitalization, has outpaced its competitor USD Tether (USDT) in issuance over the past year. Its appeal lies in its stability and widespread use in the global cryptocurrency ecosystem.
The rewards program aims to attract users looking for a safe, consistent way to earn returns on their holdings, particularly in the face of inflation and economic instability that often affect several countries in Latin America.
Nubank’s strategic push towards integrating cryptocurrency services into its offerings further establishes the bank as a leader in the region’s digital banking sector. In addition to the USDC rewards program, the company recently introduced a Bitcoin deposit and withdrawal service, further promoting cryptocurrency adoption.
Additionally, Nubank integrated the Bitcoin Lightning Network to enable micro-payments with Bitcoin in countries such as Colombia, Mexico, and Brazil.
In 2024, Nubank reported a net profit of $379 million and total revenue of $2.7 billion, with a market capitalization of $60 billion. The expansion of its rewards program solidifies Nubank’s position as a pioneer in digital banking, while also tapping into the growing demand for innovative financial services driven by cryptocurrency technology.
This shift toward rewarding users with USDC is not just a strategic move for customer retention, but also positions Nubank as a key player in the broader trend of digital asset integration into personal finance.
The program represents a significant step in making cryptocurrencies more accessible to the masses in Latin America, where financial volatility often pushes people to seek alternative solutions for securing their wealth.