"Nubank Aims to Globalize Its Digital Banking with U.S. Charter Bid"

Nubank, one of the world's largest digital financial services platforms, has submitted an application for a U.S. national bank charter to the Office of the Comptroller of the Currency (OCC), marking a strategic step in its global expansion. The move aligns with the company's long-term vision to transition from a regional player in Latin America to a global financial services provider. If approved, the charter would enable Nubank to offer a range of services in the U.S., including deposit accounts, credit cards, lending, and digital asset custody, mirroring its successful model in Brazil, Mexico, and ColombiaNubank Applies for U.S. National Bank Charter - Nu International^[1].

The application underscores Nubank's commitment to addressing unmet financial needs in the U.S. market. "Our core focus remains on delivering growth in existing markets, but applying for a U.S. charter helps us better serve our current customers in the country and connect with those who share similar financial needs," said David Vélez, founder and CEO of Nu HoldingsNubank Applies for U.S. National Bank Charter - Nu International^[1]. The company emphasized its compliance-first approach, citing its regulatory achievements in Latin America, such as Nu Mexico's recent authorization to operate as a bank in April 2025Nubank Applies for U.S. National Bank Charter - Nu International^[1].

Leadership for the U.S. venture is being prioritized, with co-founder and Chief Growth Officer Cristina Junqueira relocating full-time to the United States to lead the new subsidiary. The board of directors for the U.S. business includes prominent figures such as Roberto Campos Neto, of Brazil's Central Bank, and Brian Brooks, former Acting Comptroller of the CurrencyNubank Applies for U.S. National Bank Charter - Nu International^[1]. This strategic leadership aims to build credibility with U.S. regulators and stakeholders.

Nubank's financial performance reinforces its readiness for expansion. As of Q2 2025, the company reported record revenue of $3.7 billion, a 40% year-over-year increase, while maintaining an activity rate above 83%Nubank Applies for U.S. National Bank Charter - Nu International^[1]. Its customer base has grown to nearly 123 million across Brazil, Mexico, and Colombia, with the platform serving as the primary banking relationship for most active users. The company's cloud-native infrastructure and data-driven approach have enabled scalable operations, supporting its vision of delivering low-cost, high-impact financial servicesNubank Applies for U.S. National Bank Charter to Enter American…^[4].

The U.S. application also highlights Nubank's crypto-friendly positioning. The company has integrated cryptocurrency services into its ecosystem, allowing customers to send and receive Bitcoin, Ethereum, and Solana, with plans to expand support for additional digital assets. This aligns with its broader strategy to leverage blockchain technology for financial inclusion. In Brazil, Nubank's crypto platform saw a tenfold increase in USDC holdings in 2024, reflecting growing demand for stablecoins as a hedge against currency volatilityDigital Banking: Brazil's Nubank Enhances Financial…^[5].

Analysts note that Nubank's entry into the U.S. market faces significant regulatory hurdles but could disrupt traditional banking models. The company's ability to offer end-to-end digital services at lower costs may appeal to underbanked or tech-savvy consumers. However, competition from established players and other fintechs, such as Revolut and Inter & Co, remains a challengeNubank Makes Its Bid for America: Inside the Push for a U.S. Bank…^[7]. Nubank's success will depend on its capacity to navigate U.S. regulatory frameworks and adapt its Latin American model to a highly competitive and fragmented banking landscape.

The application process, which could take months, will require Nubank to demonstrate compliance with U.S. financial regulations and operational readiness. If approved, the charter would position Nubank as one of the first major digital banks to offer a comprehensive suite of services, including crypto custody, in the U.S. marketBrazil’s Nubank Seeks U.S. National Charter, Eyes Deposits and…^[6]. This move could signal a broader shift in the global fintech landscape, where Latin American innovators increasingly export their digital-first models to international marketsNubank Makes Its Bid for America: Inside the Push for a U.S. Bank…^[7].