Nu has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a de novo national bank, Nubank, N.A.
The approval is part of Nu’s strategy to expand its operations and product offerings in the US.
Once fully authorised, the bank charter will enable Nu to offer deposit accounts, credit cards, and lending services. It will also allow the company to provide digital asset custody under a federal framework.
“This approval isn’t just an expansion of our operation; it’s an opportunity to prove our thesis that a digital-first, customer-centric model is the future of financial services globally. While we remain fully focused on our core markets in Brazil, Mexico, and Colombia, this step allows us to build the next generation of banking in the US,”
said David Vélez, founder and CEO of Nu Holdings.
The US organisation will be led by co-founder Cristina Junqueira, who has relocated to the US. Roberto Campos Neto, former President of the Central Bank of Brazil, will serve as Chairman of the Board of Directors.
Nu has entered the bank organisation phase, during which it will meet OCC conditions and seek approvals from the FDIC and Federal Reserve.
The company plans to capitalise the institution within 12 months and open the bank within 18 months. Nu submitted its OCC application on 30 September 2025.
The approval follows Nu’s regulatory track record in Latin America.
Nu Mexico received authorisation from the Comisión Nacional Bancaria y de Valores in April 2025, and Nu Brazil has operated as a regulated bank since 2016.
Featured image credit: Edited by Fintech News Switzerland, based on image by mangpor2004 via Freepik
