Latin American digital banking giant positions itself for entry into competitive American market
SÃO PAULO — Nubank, one of the world's largest digital financial services platforms with nearly 123 million customers, has filed for a national bank charter with the U.S. Office of the Comptroller of the Currency (OCC), marking a significant milestone in the Brazilian fintech's global expansion strategy.
The move signals Nubank's ambition to evolve from a regional powerhouse into a global digital banking platform. While the company emphasizes that its core focus remains on growth opportunities in Brazil, Mexico, and Colombia, the charter application represents a long-term bet on the U.S. market.
"Today, our core focus remains on delivering growth in our existing markets, where we continue to see substantial opportunities for expansion," said David Vélez, Nubank's founder and CEO. "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."
Strategic Leadership and Governance
In a signal of its commitment to the U.S. market, Nubank co-founder and Chief Growth Officer Cristina Junqueira has relocated full-time to the United States to lead the new subsidiary as CEO. The U.S. business will operate as a fully owned subsidiary of Nu Holdings, Nubank's parent company.
The company has assembled a heavyweight board for its U.S. operations, chaired by Roberto Campos Neto, former president of Brazil's Central Bank. Other board members include Brian Brooks, former Acting Comptroller of the Currency, and Kelley Morrell, former Blackstone executive and U.S. Treasury Department official.
Product Plans and Performance
If approved, the national bank charter would enable Nubank to offer deposit accounts, credit cards, lending products, and digital asset custody services in the U.S. market—mirroring the comprehensive product suite that has driven its success in Latin America.
The timing comes as Nubank demonstrates robust financial momentum. In Q2 2025, the company posted record revenue of $3.7 billion, representing 40% year-over-year growth. The platform maintains an impressive activity rate above 83% and has become the primary banking relationship for most of its active customers.
Founded in 2013 with a mission to fight complexity in financial services, Nubank started with a no-fee credit card and has since expanded into a full-service digital bank. The company went public on the New York Stock Exchange in 2021 under ticker symbol NU.
The charter application, while approved, could take considerable time to process as regulators scrutinize Nubank's compliance frameworks and operational plans for the highly regulated U.S. banking market.