Brazilian digital banking giant Nubank, operated by Nu Holdings, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national bank in the United States. This milestone, announced on January 29, 2026, marks a pivotal step in the fintech's global expansion and could significantly influence crypto adoption in North America.
The conditional approval allows Nubank to enter a bank organization phase, during which it must meet specific OCC standards and secure pending approvals from the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve. The company aims to fully capitalize the new institution, to be named Nubank, NA, within 12 months and launch operations within 18 months.
"This approval is not just an expansion of our operations; it's an opportunity to prove our thesis that a digital, customer-centric model is the future of financial services globally," said David Vélez, founder and CEO of Nu Holdings. Co-founder Cristina Junqueira, who is leading the U.S. expansion, stated the move is a significant step toward becoming a regulated, competitive institution in the U.S. market.
Nubank's crypto-friendly stance is a key differentiator. In Brazil, the bank already offers Bitcoin and Ethereum trading directly within its app. The U.S. national bank license, once fully approved, is expected to enable the introduction of similar services, including digital asset custody, credit cards, deposit accounts, and loans through a regulated platform. This development reflects a broader regulatory shift towards openness to fintech innovation.
The expansion strengthens Nubank's global regulatory track record, following recent approvals to operate as a bank in Mexico and its long-standing status as a regulated financial institution in Brazil since 2016. The company plans to establish strategic hubs in Miami, the San Francisco Bay Area, Northern Virginia, and North Carolina's Research Triangle.
