Nubank plans to secure Brazilian banking license next year

Brazilian digital financial services platform Nubank plans to secure a banking licence in Brazil in 2026. This announcement comes after Brazilian regulators moved the prevention of non-bank companies from using the word “bank” in their brands, reported Bloomberg. Nubank has more than 110 million customers and a market valuation of $85bn. Previously, Nubank was able to offer credit cards and open accounts without holding a traditional banking license due to regulatory provisions that permitted such activ ...