Nubank’s U.S. Expansion Unlocks Crypto Banking for 127 Million Customers

Nubank, Latin America’s largest digital bank, is moving closer to offering crypto services in the United States. Nubank received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to open a national bank branch.

The milestone allows Nubank to expand into the US and eventually offer deposits, credit cards, lending, and crypto asset custody. According to the press release from January 29, the conditional approval allows Nubank to operate within the federal banking system, which means that the bank will be able to provide deposit services, credit cards, loans, and digital asset storage in the future.

However, the bank has to comply with OCC regulations and obtain approval from the FDIC and Federal Reserve. The bank has to be fully capitalized within 12 months and operational within 18 months.

Cristina Junqueira to Lead Nubank’s U.S. Crypto Operations

Cristina Junqueira, co-founder of Nubank, will oversee the U.S. operations. She relocated to the United States to oversee development and long-term growth. Roberto Campos Neto, who previously served as the President of the Central Bank of Brazil, will be the Chairman of the U.S. board.

Nubank intends to establish strategic hubs in Miami, the San Francisco Bay Area, Northern Virginia, and the North Carolina Research Triangle. These locations will enable the company to establish a fully compliant and competitive banking operation in the United States.

The OCC approval comes after Nubank has always been compliant with regulations. In Mexico, Nubank’s subsidiary received approval from the Comisión Nacional Bancaria y de Valores (CNBV) in April 2025, while its full operating license in Brazil is still valid.

Global Growth and Market Recognition

Nubank was founded in 2013 and is headquartered in São Paulo. It has over 127 million customers in Latin America. It has a very high engagement rate, over 83%. In Q3 2025, Nubank posted a revenue of $4.2 billion, a 39% increase from the previous year.

Nubank has received international recognition for its innovation and expansion, winning awards from Time, Fast Company, Latin Finance, Forbes, and Brand Finance.

The company has also announced a multi-year partnership with the Mercedes-AMG PETRONAS F1 Team, starting from the 2026 season, which will increase its international presence.

Also Read: Russia Sets July 2027 Launch for Comprehensive Crypto Regulation