Can Nubank Win in the US? W/ Nubank Founder & Global CEO David Vélez

Nubank is betting its 140M-customer scale, AI credit models, and stablecoin rails can capture underserved US deposit yield that incumbent banks currently withhold.

• US launch rationale: David Vélez says 60-70% of $15T US deposits earn near-zero yield (0.42% avg vs 4.5-5% rates), leaving ~$600B/year on the table for consumers, plus ~$100B in fees.
• Scale vs incumbents: Nubank has 140M Latin America customers with 10,000 employees and zero branches, versus competitors with 100M customers, 100,000 employees, and 6,000 branches.

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