Nu 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. 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. 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.
