Brazilian fintech giant Nubank, the largest digital bank in Latin America with more than 127 million customers, has taken a major step toward the U.S. market after receiving conditional approval from the Office of the Comptroller of the Currency to establish a national bank in the United States.

Key takeaways

• Conditional OCC approval clears the path for a U.S. national bank charter

• Nubank would operate nationwide under a single federal regulator

• Planned services include deposits, lending, credit cards, and crypto custody

• The move positions Nubank as a direct competitor to U.S. digital and legacy banks

Operating under its parent company Nu Holdings, Nubank plans to launch Nubank, N.A., a federally chartered institution that would allow it to operate nationwide under a unified regulatory framework. This approach removes the need for state-by-state licensing and places the Brazilian-born digital bank on equal footing with established U.S. financial institutions.

According to the approval terms highlighted in the announcement, the new national bank would be authorized to offer a full suite of services, including deposit accounts, lending, credit cards, and digital asset custody. Visuals accompanying the news prominently feature Bitcoin and Ethereum, reinforcing Nubank’s intent to embed crypto services directly into a federally supervised banking structure.

A rare federal charter for a foreign fintech

The federal charter represents an uncommon milestone for a non-U.S. fintech. It gives Nubank the ability to scale its mobile-first, low-cost banking model across all fifty states while operating under consistent federal oversight. This also signals growing openness from U.S. regulators toward digitally native banks that combine traditional financial services with crypto custody under established banking rules.

To support its U.S. expansion, Nubank is strengthening its leadership presence. Co-founder Cristina Junqueira has relocated to the United States and will serve as Chief Executive Officer of the new national bank. Former Brazilian central bank president Roberto Campos Neto is set to become Chairman of the Board, adding regulatory depth and institutional credibility as the company engages with U.S. supervisors.

Overall, the approval positions Nubank as a serious new entrant in the U.S. banking landscape – one that blends nationwide banking reach, digital-first infrastructure, and crypto services under a single federal charter.