Key Takeaways
- Nubank secured a Brazilian banking license, permitting it to legally preserve its title underneath new rules.
- The license solidifies its dominance in Brazil, the place it invested $7.9B and serves 65% of adults.
- Nubank additionally expanded to the US and launched Nu International, a USDC account for cross-border crypto funds.
Nubank Receives Banking License in Brazil Via Acquisition
Nubank, one of many largest digital banks in Latam, is able to grow to be a financial institution in Brazil, its largest market within the area.
The corporate, with 120 million clients in Brazil and 140 million throughout all markets, has introduced that it acquired approval from the Central Financial institution of Brazil to finish the acquisition of Banco Porto Actual de Investimentos S/A, a transaction introduced in July. The transaction permits Nubank to cope with a pending compliance concern concerning Joint Decision No. 17, issued on November 28, 2025, by the Central Financial institution and the Nationwide Financial Council
The decision establishes that monetary establishments should use phrases that clearly inform about the kind of enterprise they conduct and the providers they provide, avoiding names suggesting actions they aren’t approved to conduct to bolster market transparency and keep away from deceptive customers.
Consequently, the corporate can preserve its Nubank title, including the banking license to its fee establishment, credit score, financing, funding, and securities brokerage actions whereas complying with fintech rules within the nation.
Livia Chanes, CEO of Nubank for Brazil and Latin America, careworn the relevance of receiving this license for the corporate.
“Belief is constructed on transparency and respect for the individuals who select Nubank. The banking license continues that path and reinforces our dedication to those that stand by us and to the nationwide monetary system,” she declared.
Brazil is Nubank’s principal market, the place the corporate has lately invested 45 billion reais ($7.9 billion), reaching 1 in each 5 adults and permitting them to have entry to account credit score and crypto investments by way of its app.
Throughout its Q3 monetary outcomes, Nubank disclosed that it serves 65% of the grownup inhabitants, with exercise rising for the seventh consecutive quarter to a file 86.3% in Brazil.
In September, the corporate introduced an growth into the U.S. after receiving conditional approval from the Workplace of the Comptroller of the Forex in January, partnering with Kansas Metropolis-based Lead Financial institution to supply its providers underneath a financial institution accomplice mannequin.
Leveraging its presence in these jurisdictions, Nubank launched Nu International, a USDC-based account that enables customers to maneuver cash throughout borders and pay with crypto with an related bank card. “We need to earn the place of being folks’s main banking relationship, and capturing even a small share of the U.S. market will probably be transformative for our enterprise,” mentioned Cristina Junqueira, co-founder and CEO of Nu U.S.
