Brazilian digital banking giant Nubank has received conditional approval from the Office of the Comptroller of the Currency to establish a national bank in the United States.
Nubank, Brazil’s largest private bank and one of the biggest digital banks in the whole Latin America, announced it has obtained conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to form a de novo national bank. This approval allows the company to begin the formal process of establishing a federally regulated bank in the United States, pending the completion of regulatory requirements.
The conditional approval follows Nubank’s application, submitted in September 2025, to expand its operations into the U.S. market. The new entity, to be named Nubank, N.A., will enable the company to offer deposit accounts, lending products, and other banking services under U.S. federal oversight.
Nubank’s leadership said the approval represents a key step in its strategy to combine fintech innovation with full-service banking capabilities. Reports indicate that the bank will initially provide personal accounts, supporting U.S. dollars at launch, with plans to expand to multiple currencies over time. Users will be able to deposit funds, make payments, and access other banking services in addition to their digital banking features.
The OCC’s conditional approval confirms that Nubank meets the initial regulatory standards to form a national bank but requires the company to satisfy additional conditions. These include finalising its capital structure, completing operational and compliance frameworks, and securing approvals from the Federal Deposit Insurance Corporation and the Federal Reserve.
Analysts say the milestone underscores growing regulatory recognition of fintechs that seek to operate as fully regulated banks in major markets. Conditional approval allows Nubank to begin organisational and operational preparations while adhering to U.S. banking regulations. Full licensing will follow once the company meets all OCC requirements and completes the necessary regulatory reviews.
The move positions Nubank to compete directly in the U.S. financial market, offering services traditionally limited to established banks. Industry observers note that a successful launch could pave the way for other fintechs from Latin America and elsewhere to explore federal banking charters in the United States.
With conditional approval secured, Nubank has taken a significant step toward expanding its global footprint, combining digital banking expertise with the legal authority to offer traditional banking services. Completion of the remaining regulatory milestones will determine when the bank can fully launch and begin serving U.S. customers.
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