Bank Digital Bank Nubank has decided to extend a 4 % annual return feature on Stablecoin USD (USDC).
This feature applies to the balances of at least 10 USDC, with daily revenues. Instant liquidity, allowing users to reach their money at any time. According to a statement issued by the bank, the feature of launching the feature on a broader scale is followed by a period of one year that tests variable rates with a limited group of users.
Customers can activate the rewards feature through the encryption portfolio in the NUBANK application and deactivate or revitalize them according to their estimate.
The growing interest in USDC among Nubank users
In 2024, Nubank was ten times an increase in the USDC amount kept by its customers, with approximately 30 % of the base of users now including assets in their wallets. In addition, more than half of the new Nubank Cripto users chose USDC as the first of digital assets, which reflects its popularity among bank customers.
USDC is Stablecoin with the support of the US dollar and is supported by liquid reserves that can be recovered on the basis of 1: 1 for the US dollar. This support, along with the audit reserves for the public, makes USDC less volatile compared to other encrypted currencies.
Experiences of encryption and price alerts
In November 2024, Nubank provided an encrypted currency replacement tool inside its application. This feature enables users to exchange Bitcoin, ETHEREUM, Solana, or UISWAP for USDC and vice versa in reduced fees.
The application also includes price alert functions. Customers can monitor fluctuations in encrypted currency values, with specific thresholds for USDC associated with exchange rate changes between the real US and Brazilian dollar (0.5 %, 1.5 %, or 2 %). Alerts for other encrypted currencies, such as BTC and ETH, are operated with wider contrast levels, including 3 %, 6 %, or 9 %.
At that time, officials from Nubank explained that SWAP is a very required feature by customers who combine encryption assets into their financial strategies. The launch of the USDC and four of the most popular cryptocurrencies provided a way for users to benefit from the growth of value while maintaining the market exposure and enjoying low fees for selling for the Fiat currency.
