Application is a preparatory stage supporting Nubank's long-term vision of expanding its customer-centric, tech-driven digital banking platform beyond Latin America

Nubank (NYSE: NU), one of the world's largest digital financial services platforms, announced today that it has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC) of the United States. This undertaking is aligned with the company’s intention to explore future international opportunities by evolving its regional platform into a global model. Pursuing a U.S. national bank charter positions Nubank to unlock new possibilities within the U.S. financial landscape.

"Today, our core focus remains on delivering growth in our existing markets, where we continue to see substantial opportunities for expansion. 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 and could benefit from our products and services,” said David Vélez, founder and CEO of Nu Holdings.

A national bank charter from the OCC will support Nubank's ability to innovate responsibly and scale efficiently in the U.S. market, eventually offering deposit accounts, credit card, lending and digital asset custody, reflecting the compliance-first mindset of its operations in Brazil, Mexico and Colombia. In Mexico, its subsidiary Nu Mexico received authorization to become a bank from the Comisión Nacional Bancaria y de Valores (CNBV) in April 2025, and awaits its final operational approval.

“Nubank's purpose continues to be to positively impact people's lives by offering best-in-class digital financial services. While there's work ahead, we believe that by working closely with regulators, we will soon be in a position to expand our offering to the broader U.S. market,“ added Cristina Junqueira, co-founder, Chief Growth Officer of Nu Holdings, and CEO of the emerging United States business, which will be a fully owned subsidiary of Nu Holdings. Cristina has relocated full time to the United States in a commitment to this endeavor.

The Board of Directors of the United States business will be composed by Roberto Campos Neto, former President of the Central Bank of Brazil, who will serve as Chairman of the Board; Cristina Junqueira; Youssef Lahrech, former Nu President and COO and current Nu Audit and Risk Committee observer; Brian Brooks, former Acting Comptroller of the Currency and current Chairman and CEO of Meridian Capital Group; and Kelley Morrell, former Blackstone Senior Managing Director, Chief Strategy Officer of CIT Group, and U.S. Treasury Department executive, and current Founder and Managing Partner of Highline Capital Management.

Nubank's Journey

Founded in 2013 and headquartered in São Paulo, Nubank has rapidly grown to become one of the world’s largest digital financial services platforms, serving nearly 123 million customers across Brazil, Mexico and Colombia. Nubank demonstrates strong financial results powered by an efficient and scalable business model that combines low cost to serve with growing returns. The company stands as one of the fastest-growing and profitable financial services companies globally, maintaining an activity rate above 83% and, in Q2 ’25, presented a record revenue of $3.7 billion, a 40% growth year-over-year, at a holding level.

Born with a mission to empower people by reinventing financial services and fighting complexity, the company launched a no-fee credit card, with the aim of tackling the most challenging financial vertical – lending – first. This 100% cloud-native platform proved to be a key differentiator, powering industry-leading data processing for product design, credit and risk models, and customer personalization. The savings account, launched in 2017, unlocked further growth by enabling a suite of products: personal loans, SME solutions, investments, and crypto. Today, the portfolio includes marketplace, insurance, and mobile plans, among others. This combination of products and services and a customer-centric approach differentiates Nubank from most digital banks by driving principality – today, the company is the main banking relationship for most of its active customers.

Nubank’s impact has been recognized by multiple awards, including Time 100 Most Influential Companies, Fast Company’s Most Innovative Companies, Latin Finance’s Digital Bank of the Year and Forbes World’s Best Banks. Nubank has been publicly traded on the New York Stock Exchange since 2021 under the ticker symbol NU.

Nubank worked closely with their advisors, Klaros Group, and counsel, Davis Polk & Wardwell LLP, in preparing the application.

About Nu

Nu is one of the largest digital financial services platforms in the world, serving over 122 million customers across Brazil, Mexico, and Colombia. The company has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. Guided by its mission to fight complexity and empower people, Nu caters to customers’ complete financial journey, promoting financial access and advancement with responsible lending and transparency. The company is powered by an efficient and scalable business model that combines low cost to serve with growing returns. Nu’s impact has been recognized in multiple awards, including Time 100 Most Influential Companies, Fast Company’s Most Innovative Companies, and Forbes World’s Best Banks.

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