Brazil’s Nubank applies with OCC for national bank charter
Brazilian digital lender Nubank has applied with the Office of the Comptroller of the Currency for a national bank charter.
Nubank said in a press release that the move would allow it to eventually offer deposit accounts, credit cards, loans and digital asset custody.
“Today, our core focus remains on delivering growth in our existing markets, where we continue to see substantial opportunities for expansion,” David Vélez, Nu Holdings’ founder and CEO, said in the release. “Applying for a U.S. national charter helps us better serve our existing customers based in the country and, in the future, connect with those who share similar financial needs and could benefit from our products and services.”
Cristina Junqueira, Nu Holdings’ chief growth officer, is CEO of the U.S. business. Roberto Campos Neto, former president of the Central Bank of Brazil, will serve as chairman.
The board will also include former acting Comptroller Brian Brooks; Youssef Lahrech, former Nu president and COO; Kelley Morrell, founder and managing partner of Highline Capital Management.