Brazilian bank Nubank has launched a fixed 4% annual return for USDC holders, making the feature available to all cryptocurrency wallet users.

Latin America's largest digital bank, with more than 85 million customers in Brazil and 6 million between Mexico and Colombia, now offers a fixed 4% annual return to users holding Circle's USD stablecoin (US dollars). Nubank has expanded its rewards program to all users after testing it with a small group last year, the neobank said in a statement on January 14. Blog announcement.

To be eligible, customers must maintain a minimum balance of 10 USDC in their cryptocurrency wallets. Payouts are added daily, and funds can be accessed instantly, the ad reads. Users can activate or deactivate the feature at any time through the Nubank application.

The Brazilian fintech bank says USDC was not chosen by chance as it now represents 30% of cryptocurrency users' wallets. The bank also added that “more than 50% of new Nubank Crypto users chose USDC as their first digital asset.”

In November 2024, Nubank introduced a cryptocurrency swap tool. This feature allowed users to trade Bitcoin (Bitcoin), Ethereum (Ethereum), Solana (Sol), or Uniswap (UNI) for USDC.

Nubank has been growing its cryptocurrency offerings, though not all efforts have gone smoothly. For example, in September 2024, the bank suddenly... to stop He traded his Nucoin token, saying he wanted to protect users from market volatility. The bank launched Nucoin in late 2022 on the Polygon network as part of a rewards program that offers perks such as discounts.