​Nu Holdings (NU) Receives Approval to Set up a New National Bank in the US

Core Insights - Nu Holdings Ltd. has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a new national bank named Nubank, marking a significant step towards entering the US market [1][2] - Nubank currently serves 127 million customers primarily in Latin America and aims to introduce its app-based banking model to American consumers [2] - Susquehanna has upgraded Nu Holdings' price target from $19 to $22, maintaining a Buy rating, citing the company's global expansion strategy as a key growth driver for 2026 [4] Company Overview - Nu Holdings Ltd. operates a digital banking platform across Brazil, Mexico, Colombia, the Cayman Islands, and the US, offering a range of services including spending, transactional, savings & investing, borrowing, and protection solutions [5] - The company's founder and CEO, David Vélez, emphasized that the approval is not just an operational expansion but a chance to validate the digital-first, customer-centric model as the future of financial services globally [2]