BANKING
After redefining banking in Brazil, Nubank sets sights on the US
Nubank CEO David Vélez: “The US market is essential for [our global strategy].” Photo: Sam Barnes/Web Summit Rio
Brazilian digital lender Nubank has applied for a national banking license in the US, seeking to transform itself from a Latin American champion into a truly global financial player. The request was filed with the Office of the Comptroller of the Currency (OCC), and seeks to offer American customers deposit accounts, credit cards, loans and digital asset custody.
Nubank currently has nearly 123 million clients in Brazil, Mexico and Colombia. The new venture will operate as…
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