Nubank Gets Green Light to Launch a Crypto-Friendly U.S. Bank

One of the world’s largest digital banks is officially entering the U.S. system. Nubank has received conditional approval to form a U.S. national bank, a milestone that opens the door to deposits, lending, digital asset custody, and more.

The move signals a serious push into regulated American banking as traders wonder if a digital-first bank can succeed inside the U.S. regulatory perimeter.

Nubank Clears a Major U.S. Regulatory Hurdle

Nu Holdings announced in a press release published on January 29 that the office of the Comptroller of the Currency (OCC) has granted conditional approval for the formation of Nubank, N.A., a de novo national bank in the United States, after the company submitted its application in September 2025.

Once fully approved, the charter would allow Nubank to operate under a comprehensive federal banking framework, enabling products such as deposit accounts, credit cards, lending services, and digital asset custody. The approval marks a significant step in the company’s long-term plan to expand beyond its core Latin American markets.

Nubank currently serves more than 127 million customers across Brazil, Mexico, and Colombia. Its U.S. banking effort will be led by co-founder Cristina Junqueira, whereas former Central Bank of Brazil president Roberto Campos Neto will serve as chairman of the board.

As Junquiera explained:

“Receiving federal approval for a national bank charter is a significant step in our journey to becoming a solid, compliant, and competitive regulated institution in the US. (…) We look forward to delivering the transparent, efficient financial experiences already trusted by more than 127 million customers around the world to our future customers in the US.”

Why This Matters for U.S. Banking and Crypto

A U.S. national bank charter places Nubank inside the country’s most tightly regulated financial framework. That matters not only for traditional banking products, but also for how digital-first institutions approach cryptocurrency custody and digital assets under federal oversight.

The company has now entered the “bank organization” phase, during which it must meet OCC conditions and secure approvals from the FDIC and the Federal Reserve. Regulators require full capitalization within 12 months and operational readiness within 18 months.

For the broader fintech sector, Nubank’s approval sends a clear signal: large digital banks can win U.S. regulatory trust, but only by committing to full compliance rather than lighter fintech licenses.

In the words of David Vélez, founder and CEO of Nu Holdings:

“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. While we remain fully focused on our core markets in Brazil, Mexico, and Colombia, this step allows us to build the next generation of banking in the United States.”

If successful, Nubank would join a small group of digital-native institutions operating as federally chartered banks, potentially reshaping competition across payments, lending, and crypto-adjacent financial services in the U.S.

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