Nubank Receives Conditional OCC Approval for U.S. De Novo National Bank
Nu Holdings (NYSE: NU) announced on Jan 29, 2026, that it received conditional approval from the Office of the Comptroller of the Currency to form a de novo national bank called Nubank, N.A. The approval is part of Nu's long-term strategy to expand its operations and product offerings in the United States. Once fully approved, the national bank charter would allow Nu to launch deposit accounts, credit cards, lending, and digital asset custody under a federal framework.
Nu currently serves 127 million customers across its core markets in Brazil, Mexico, and Colombia. Founder David Vélez described the approval as an opportunity to bring a digital-first, customer-centric banking model to the U.S. market. The company said it remains focused on its existing Latin American operations alongside the U.S. expansion effort.
- A major foreign neobank entering the U.S. with its own charter could disrupt the BaaS model by reducing reliance on partner banks
- Signals increasing OCC openness to digital-native bank charter applicants amid the administration's fintech-friendly regulatory stance