Brazilian digital banking giant Nubank has applied for a U.S. national bank charter, marking a significant step in its international expansion plans.
Currently operating in Brazil, Mexico, and Colombia, the national bank charter from the Office of the Comptroller of the Currency would allow Nubank to offer deposit accounts, credit cards, loans, and digital asset custody to U.S. customers.
“Today, our core focus remains on delivering growth in our existing markets, where we continue to see substantial opportunities for expansion,” said 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 in the country and connect with others who share similar financial needs and could benefit from our products and services.”
In Mexico, Nubank’s subsidiary Nu Mexico received authorization in April 2025 to become a bank from the Comisión Nacional Bancaria y de Valores (CNBV) and is awaiting final operational approval.
For its U.S. initiative, Nubank has brought on former acting Comptroller Brian Brooks and ex-Treasury Department executive Kelley Morrell to facilitate the application process.
Cristina Junqueira, co-founder and CEO of the U.S. division, stated, “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 U.S. market.”
Since its founding in 2013, Nubank has seen remarkable success, boasting over 100 million customers in Brazil and posting $1 billion in full-year profit.