Brazil's Nubank applies for U.S. bank charter with OCC

[Fintech concept]
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Nubank, the Brazilian digital banking platform of Nu Holdings (NYSE:NU [https://seekingalpha.com/symbol/NU]), has applied [https://seekingalpha.com/pr/20249787-nubank-applies-for-u-s-national-bank-charter] for a U.S. national bank charter with the Office of the Comptroller of the Currency, it said on Tuesday.

If approved, Nubank will have the ability to eventually offer deposit accounts, credit card, lending and digital asset custody in the U.S. market.

"While there's work ahead, we believe that by working closely with regulators, we will soon be in a position to expand our offering to the broader U.S. market,“ said Junqueira, co-founder, chief growth officer of Nu Holdings, and CEO of the emerging U.S. business, which will be a fully owned subsidiary of Nu Holdings.

In Mexico, its subsidiary Nu Mexico received authorization to become a bank from the Comisión Nacional Bancaria y de Valores (CNBV) in April, and awaits its final operational approval.

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