Nu Holdings, commonly known as Nubank, has obtained conditional authorization from the US Office of the Comptroller of the Currency (OCC) to establish a new national bank, Nubank, NA, in the United States.
The company must fulfill capitalization and oversight requirements and secure final approvals from the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve before operations can start.
Co-founder Cristina Junqueira has moved to the US to serve as the new bank’s CEO. Former Central Bank of Brazil president Roberto Campos Neto will serve as chairman of the board.
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Under the approved framework, once fully authorized, the US bank will provide deposit accounts, credit cards, lending services, and support for digital asset custody.
David Vélez, founder and CEO of Nu Holdings, said:
This approval isn’t just an expansion of our operation; it’s an opportunity to prove our thesis that a digital-first, customer-centric model is the future of financial services globally.
The application for this charter was initially submitted to the OCC on September 30, 2025. The company now has a 12‑month window to complete capitalization and an 18‑month deadline to open the bank, pending additional regulatory sign‑offs.
The expansion is tied to efforts to establish key hubs in the US, including locations in Miami, the San Francisco Bay Area, Northern Virginia, and the North Carolina Research Triangle.
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