Latin American Giant Nu Secures US Banking License – Details
Nu, Latin America's largest digital bank, has received conditional approval for a national banking charter from the U.S. OCC. This allows its subsidiary, Nubank N.A., to expand into the U.S., with plans to operate in several strategic hubs. To gain full operational powers, it must meet compliance, risk, and governance criteria, secure approvals from the FDIC and the Federal Reserve, raise required capital within 12 months, and begin operations within 18 months. Initial services will include deposit accounts, credit cards, lending, and digital asset custody. CEO David Vélez stated this expansion supports their thesis that a digital-first model is the future of global financial services.
bitcoinist01/31 23:02
