office of the comptroller of the currencyregulatory
A U.S. federal regulator that oversees and enforces rules for nationally chartered banks and federal savings associations, acting like a referee to make sure those institutions operate safely and follow banking laws. Investors care because the agency’s supervision, rule changes, or enforcement actions can affect a bank’s safety, profitability, lending ability and legal risks — all of which influence the value and stability of bank stocks and related financial assets.
de novo national bankregulatory
A de novo national bank is a newly created bank that has received federal approval to start operations from scratch rather than being formed by merging or acquiring an existing lender. For investors, it matters because these banks are essentially financial startups: they can offer fresh growth opportunities but also carry higher early-stage risks and close regulatory scrutiny, similar to backing a new restaurant versus buying a share in an established chain.
digital asset custodyfinancial
The secure holding and management of cryptocurrencies or tokenized securities so that only authorized parties can access and move them; custodians store the “secret codes” that prove ownership much like a bank holds physical deeds or safe-deposit boxes. It matters to investors because who safeguards those codes affects the safety, ease of trading, regulatory compliance, and recoverability of assets after theft, loss, or legal disputes — similar to why you’d prefer a trusted vault over keeping valuables in a drawer.
fdicregulatory
The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency that protects individual and business bank deposits by insuring accounts up to a set limit, acting like a safety net for savers if a bank fails. It matters to investors because FDIC insurance reduces the chance of sudden losses for depositors, supports confidence in the banking system, and can influence the perceived risk and stock value of banks and financial firms.
federal reserveregulatory
The federal reserve is the United States’ central bank system that sets short-term interest rates, controls the supply of money, and acts as a lender of last resort to banks. Think of it like a thermostat for the economy: by raising or lowering rates and adjusting money flow it helps cool inflation or stimulate growth, which directly affects borrowing costs, corporate profits and stock valuations—key concerns for investors.
national bank charterregulatory
A national bank charter is a federal license that allows a bank to operate under national rules, take deposits, make loans, and participate in payment systems across the country. Think of it as a nationwide driver’s license for a bank: it sets the standards the bank must follow and places it under federal supervision, which matters to investors because it affects safety, growth opportunities, and regulatory costs that influence the bank’s value.
SÃO PAULO--(BUSINESS WIRE)--
Nu (NYSE:NU), one of the largest digital financial services platforms in the world with 127 million customers, today announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) of the United States for the formation of a de novo national bank, Nubank, N.A.The conditional approval represents a milestone in the company's long-term strategy to expand its operational footprint and product offerings in the United States. Once fully approved, the national bank charter will allow Nu to operate under a comprehensive federal framework, facilitating the launch of deposit accounts, credit cards, lending and digital asset custody.
“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 United States," says David Vélez, founder and CEO of Nu Holdings.
The US organization will be led by Nu's co-founder Cristina Junqueira, who has relocated to the US to spearhead the bank’s development and long-term growth. Roberto Campos Neto, former President of the Central Bank of Brazil, will serve as Chairman of the Board of Directors.
"Receiving federal approval for a national bank charter is a significant step in our journey to becoming a solid, compliant, and competitive regulated institution in the US," said Junqueira, CEO of the emerging US business. "We look forward to delivering the transparent, efficient financial experiences already trusted by more than 127 million customers around the world to our future customers in the US.”
Nu has now entered the bank organization phase, which involves satisfying specific OCC conditions alongside pending required approvals from the FDIC and the Federal Reserve. During this phase, the company will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months, as required by regulators. Nu submitted its application to the OCC on September 30, 2025.
This latest approval builds on Nu's history of adhering to rigorous regulatory standards across multiple jurisdictions. This commitment is reflected in its international operations: Nu’s subsidiary, Nu Mexico, received authorization to organize as a banking institution from the Comisión Nacional Bancaria y de Valores (CNBV) in April 2025 and awaits its final operational approval. In Brazil, Nu has operated as a fully regulated financial institution since 2016 and recently announced its intention to obtain a full banking license in 2026. Nubank has been publicly traded on the New York Stock Exchange since 2021 under the ticker symbol NU.
The US regulatory process is integral to the company's previously announced plan to establish strategic US hubs in Miami, the San Francisco Bay Area, Northern Virginia, and the North Carolina Research Triangle.
Nu's Journey
Founded in 2013 and headquartered in São Paulo, Nu has rapidly grown to become one of the world’s largest digital financial services platforms, serving over 127 million customers across Brazil, Mexico, and Colombia. In Brazil, Nu has solidified its position as the country's largest private financial institution by customer base.
As one of the fastest-growing and most profitable financial services companies globally, Nu maintains a high engagement level with an activity rate exceeding 83%. In Q3’25, presented a record revenue of $4.2 billion, a 39% growth year-over-year, at a holding level.
Nubank’s impact has been recognized by multiple awards, including Time 100 Most Influential Companies, Fast Company’s Most Innovative Companies, Latin Finance’s Digital Bank of the Year and Forbes World’s Best Banks.
Recognized as the Strongest Banking Brand in Brazil by Brand Finance and the Top Growing Banking Brand globally according to The Banker and Kantar, Nu is now scaling its influence globally. The company just announced a multi-year partnership as Official Team Partner of the Mercedes-AMG PETRONAS F1 Team starting with the 2026 season.
About Nu
Nu (NYSE:NU) is one of the largest digital financial services platforms in the world, serving more than 127 million customers across Brazil, Mexico, and Colombia. The company has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. Guided by its mission to fight complexity and empower people, Nu caters to customers’ complete financial journey, promoting financial access and advancement with responsible lending and transparency. The company is powered by an efficient and scalable business model that combines low cost to serve with growing returns.
