Nubank, the largest digital bank in South America and a supporter of cryptocurrency trading, has begun U.S. banking operations through a partnership with Lead Bank. The arrangement follows conditional approval from the Office of the Comptroller of the Currency (U.S. bank regulator) in January for Nubank to establish a U.S. branch. By using Lead Bank’s existing infrastructure instead of waiting for its own charter, Nubank is seen as reducing a potentially yearslong regulatory process. It plans to offer U.S. consumers high-yield deposits, fee-free transfers and cryptocurrency trading services. The partnership is temporary, with Nubank expected to operate under its own charter in 2027; until then, the companies will share compliance obligations and revenue.