Nubank gains conditional OCC approval for a U.S. branch, supporting crypto custody plans and broader digital banking expansion strategy.
Nubank, Latin America’s largest crypto friendly bank, secured conditional approval from the OCC for a U.S. branch. The move supports crypto custody, deposits, cards and lending services in the future. Moreover, full operations still require fulfillment of regulatory conditions within established federal timelines.
OCC Approval Marks Strategic Step for Nubank’s U.S. Expansion
The conditional permission is a milestone in Nubank’s long-term United States expansion strategy. Consequently, the national bank charter would allow doing business within a single federal framework. Therefore, Nu could launch deposit accounts, credit cards, lending products and regulated digital asset custody.
Nu Holdings won preliminary approval to perform some banking activities in the US, a first step by the Latin American fintech to move into the world’s largest economy https://t.co/5FTZ1q6vK0
— Bloomberg (@business) January 29, 2026
David Vélez, founder and CEO, said the approval was strategically significant for global ambitions. But, he stressed continued focus on Brazil, Mexico and Colombia markets. Meanwhile, the US initiative helps test a digital-first, customer-centric, banking model.
Nu confirmed that Cristina Junqueira will head the U.S. organization as chief executive. Additionally, she moved over to look after development and long-term growth plans. Former Brazilian central bank president Roberto Campos Neto will be the board chairman.
Junqueira said federal approval moves Nu forward in meeting its compliance and competitiveness objectives. Furthermore, she drew attention to plans for delivering transparent, efficient services already trusted by 127000000 customers across the world. Therefore, it was possible for U.S. consumers to eventually have access to similar digital banking experiences.
The company has now passed into the formal bank organization phase. During this time period, Nu will be required to meet OCC requirements in addition to approvals from the FDIC and Federal Reserve. Consequently, being fully capitalized within 12 months and operationally launched within 18 months is a requirement from the regulators.
On September 30, 2025, Nu filed its OCC application based on filings. Since then, regulatory engagement has been active but structured. Meanwhile, management continues to align the governance, capital and risk frameworks with the US standards.
Global Regulatory Track Record Supports U.S. Banking Ambitions
This approval follows Nubank’s proven track record of remaining compliant with regulations across jurisdictions. In Mexico, Nu was authorized by CNBV to operate as a bank in April 2025. But final operational approval there is still pending.
In Brazil Nubank has been a regulated financial institution since 2016. Recently, management announced intentions to go for a full banking license in 2026. Therefore, regulatory expansion is still at the core of its long-term growth strategy.
Nubank also has kept themselves transparent in the public markets since listing NYSE in 2021. The company is listed on the stock market under the ticker symbol of NU. Consequently, disclosures and governance are already in line with expectations of US investors.
The regulatory process in the U.S. does support Nubank’s previously announced plan for strategic hubs. These places include Miami, the San Francisco Bay Area, Northern Virginia and North Carolina’s Research Triangle. Moreover, these hubs are intended to reinforce technology, compliance and product development.
Crypto custody is an interesting future offering in the framework of a planned US branch. However, any launch is subject to the satisfaction of federal conditions and supervisory approvals. Therefore, timelines are still subject to regulatory review and capital readiness.
Overall, Nubank’s conditional approval shows increasing regulatory confidence in models for digital banking. Meanwhile, the phased process emphasizes strict standards of U.S. oversight. Consequently, the result could impact the digital bank and crypto custody adoption on a broader level in the country.