Nubank applies for US bank charter

Nubank is setting its sights on the U.S. digital banking market.

The Brazilian neobank announced on Tuesday that it has filed for a U.S. national bank charter with the Office of the Comptroller of the Currency. The move underscores the bank's strategy to "explore future international opportunities by evolving its regional platform into a global model," according to a company press release.

Nubank has already expanded to Mexico and Colombia, according to a recent earnings report. In total, Nubank has 122.7 million customers across the three countries as of August 2025.

"Today, our core focus remains on delivering growth in our existing markets, where we continue to see substantial opportunities for expansion," said Nubank CEO David Vélez. "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."

A national bank charter from the OCC would enable Nubank to scale in the U.S. market, eventually offering deposit accounts, credit cards, loans and digital asset custody, according to the company. 

American Banker recognized Nubank as an Innovation of the Year 2025 honoree earlier this year for its efforts to provide banking access to Latin American teenagers with its Under-18 accounts.

Nubank's in-app "Cripto" wallet has 6.6 million users, led by millennial and Gen Z investors. The neobank announced its own native cryptocurrency in 2022, but suspended it two years later after a 97% price drop.

Nubank cut its management layers in half earlier this year, and Vélez said at the time that the neobank would hire new C-level executives in the coming months to help with its push to keep expanding internationally.

Nubank co-founder Cristina Junqueira is the CEO of the bank's emerging U.S. business, which will be a fully owned subsidiary of the bank's parent company Nu Holdings. Junqueira has relocated full-time to the United States to fill the role.

"Nubank's purpose continues to be to positively impact people's lives by offering best-in-class digital financial services," Junqueira said. "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."

Nubank has also been listed on Nasdaq since December 2021.