Nu Secures Approval to Establish US National Bank

Core Insights - Nu has received conditional approval from the Office of the Comptroller of the Currency (OCC) for the formation of a de novo national bank, Nubank, N.A., marking a significant step in its strategy to expand in the U.S. market [1][4] - The approval allows Nu to operate under a federal framework, enabling the launch of various financial products including deposit accounts, credit cards, lending, and digital asset custody [1][4] - The U.S. operations will be led by co-founder Cristina Junqueira, with Roberto Campos Neto, former President of the Central Bank of Brazil, serving as Chairman of the Board [3] Company Growth and Strategy - Nu has grown to serve over 127 million customers across Brazil, Mexico, and Colombia, establishing itself as the largest private financial institution in Brazil by customer base [7] - The company reported a record revenue of $4.2 billion in Q3 2025, reflecting a 39% year-over-year growth [8] - Nu's commitment to regulatory compliance is evident in its operations across multiple jurisdictions, including its subsidiary in Mexico and its plans for a full banking license in Brazil by 2026 [5] Market Position and Recognition - Nu is recognized as one of the fastest-growing and most profitable financial services companies globally, with an activity rate exceeding 83% [8] - The company has received multiple awards, including recognition as the Strongest Banking Brand in Brazil and the Top Growing Banking Brand globally [9] - Nu has announced a multi-year partnership with the Mercedes-AMG PETRONAS F1 Team, starting in the 2026 season, to enhance its global influence [9]