Keeping all your savings in a single local currency can be a risk. Inflation and exchange-rate swings reduce purchasing power over time. One option is to hold part of your savings in strong currencies. In the Nu Global App, you can hold a balance in digital dollars (USDC) and digital euros (EURC).
What digital dollars and euros are. They are stablecoins: digital assets designed to hold a steady value against the US dollar and the euro. “Designed” is the limit of the claim, because their value is not guaranteed.
- A strong reference currency: your balance is designed to track the dollar or the euro, not your local currency.
- Swiss guarantee: balances in the Nu Global App are secured by a default guarantee from a Swiss bank, to the extent required by law.
- No monthly fees: no monthly plans, maintenance fees or annual fees.
- Access: you can spend, transfer or convert your balance at any time. In limited cases, Nu may delay or block a transaction where the law requires it or a security or fraud risk is detected.
- Scale: Nu is part of Nu Holdings (NYSE: NU) and has over 140 million customers worldwide.
FAQ
What is a stablecoin? It is digital money designed to hold a steady value against a traditional currency, such as the dollar or the euro. Because it runs on digital infrastructure (blockchain), it can be sent and received from anywhere.
Does my money in Nu lose value when my local currency drops? USDC and EURC are designed to track the dollar and the euro, not your local currency. That is a design intent, not a guarantee of value.
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