Barzillian digital banking giant Nubank has applied for a US national bank charter, furthering its international expansion ambitions.
Already active across Brazil, Mexico and Colombia, a national bank charter from the Office of the Comptroller of the Currency would enable Nubank to offer deposit accounts, credit card, lending and digital asset custody to US customers.
“Today, our core focus remains on delivering growth in our existing markets, where we continue to see substantial opportunities for expansion," says David Vélez, founder and CEO of Nu Holdings. "At the same time, applying for a U.S. national charter helps us better serve our existing customers based in the country and, in the future, connect with those who share similar financial needs and could benefit from our products and services,” said .
In Mexico, where it already has over 10 million customers, Nubank's subsidiary Nu Mexico received authorization to become a bank from the Comisión Nacional Bancaria y de Valores (CNBV) in April 2025, and awaits its final operational approval.
For the US push, the bank has recruited former acting Comptroller Brian brooks, and ex-treasury department executive Kelley Morrell to help grease the wheels of its application.
Cristina Junqueira, co-founder and CEO of the emerging United States business, says: “While there’s work ahead, we believe that by working closely with regulators, we will soon be in a position to expand our offering to the broader US market."
Nubank has been a runaway success since its founding in 2013. The company now claims over 100 million customers in Brazil and last posted $1 bullion in full-year profit.