Nubank launches US multicurrency account settled in stablecoins
Neobank expansion · Launched 16 Sep 2026
Nubank launched 'Nu Global', a US multicurrency account that converts deposits into Circle's USDC stablecoin or digital euros, paying 3.5% APY on US-dollar balances as part of its broader US market entry.
Why it matters — It's a live example of a major neobank using stablecoins as core account infrastructure rather than a side product — relevant context for NZ policymakers and banks weighing how retail stablecoin use cases might eventually surface here.
Nubank accelerates US entry via Lead Bank partnership ahead of its own charter
Neobank expansion · 10 Sep 2026
Nu Holdings launched consumer banking in the US on 10 September through a partnership with Kansas City's Lead Bank, offering a 3.5% deposit account and a no-fee cashback card, ahead of its own national bank charter expected by 2027.
Why it matters — One of the world's largest digital banks is now live in the US market via a sponsor-bank model — a fast-follow playbook NZ-focused neobanks and fintechs could copy to enter adjacent markets without waiting for a full licence.
Competitor watch — NZ, Australia & globalhighUpdate
[UPDATE] Revolut secures Australian banking licence, launches business savings at 4.25%
Neobank expansion
Revolut has been granted an Authorised Deposit-taking Institution licence by APRA — becoming Revolut Bank Australia — and has launched government-backed deposit accounts and business savings paying up to 4.25%, backed by its previously announced A$400m investment plan.
Why it matters — The licence turns Revolut from a challenger app into a fully-fledged deposit-taker in Australia just as it awaits its own registered-bank decision from the RBNZ — a green light across the Tasman raises the stakes for how NZ's four major banks respond.
Competitor watch — NZ, Australia & globalhighUpdate
[UPDATE] Revolut pumps A$400m into Australia and eyes a New Zealand registered-bank licence
Neobank expansion · Australian rollout began 21 July 2026
Following last week's Australian banking licence launch, Revolut has detailed plans to invest A$400 million in Australia over five years and confirmed it is awaiting a decision on its application to become a registered bank in New Zealand, which its Australia/NZ chief called 'prime ground' for expansion. Australian transaction volumes are up 235% year-on-year with the customer base past 1.2 million.
Why it matters — A capitalised, licensed Revolut entering New Zealand as a registered bank — rather than as a card app — would be the most direct new-entrant threat to the big five's retail deposit and transaction-account base since Kiwibank.
Revolut secures full Australian banking licence, launches Revolut Bank Australia
Neobank expansion · APRA licence granted 21 July 2026
APRA has granted Revolut Payments Australia a full Authorised Deposit-taking Institution licence — the first time a global fintech has received one — letting the newly launched Revolut Bank Australia offer government-guaranteed deposits and lending to its 1.2 million-plus Australian customers, backed by a five-year, roughly A$400 million investment plan.
Why it matters — Revolut is still awaiting RBNZ registration as a bank in New Zealand; a successful, well-capitalised Australian banking entity strengthens its case and raises the competitive stakes for NZ’s big four and Kiwibank once it clears that bar.
Competitor watch — NZ, Australia & globalmediumUpdate
[UPDATE] Revolut readies NZ business accounts, extending its Wise rivalry into SME banking
Neobank expansion · Announced March 2026; launch expected in coming months
Building on its personal-account push covered yesterday, Revolut is preparing to open small-business accounts with real-time analytics in New Zealand, extending its head-to-head competition with Wise from personal customers into SME banking.
Why it matters — SME banking carries thicker margins than personal transaction accounts; if Revolut executes here, incumbent business-banking franchises at the big five face a second front of neobank competition rather than one contained to personal accounts.