Nubank, the world's largest digital banking platform, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a de novo national bank. Announced on Friday, January 30, 2026, the greenlight allows the Latin American fintech giant to begin the rigorous "bank organization" phase, bringing its customer-centric, digital-first model to the United States. Once fully authorized by the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, the new entity, Nubank, N.A., will be empowered to offer a comprehensive suite of federally regulated services, including deposit accounts, lending, and digital asset custody. Led by co-founder Cristina Junqueira, who has relocated to lead the U.S. expansion, and chaired by former Central Bank of Brazil president Roberto Campos Neto, the project aims to bridge the gap between traditional banking and the evolving digital economy within the next 18 months.

• The banking license represents a "generational shift" for Nubank, moving from a regional powerhouse to a federally regulated U.S. institution.
• Federal oversight will enable the integration of instant credit and dollar-pegged payments, leveraging the firm’s massive 127 million customer base.
• Discover the strategic "setup hubs" planned for Miami and San Francisco that will serve as the nerve centers for Nubank's North American operations.

For Nubank, securing an OCC charter is the ultimate validation of its digital-first thesis. Founder and CEO David Vélez framed the approval not just as an expansion, but as a proof of concept that a digital-native model can thrive within the world's most demanding regulatory framework. By operating under a national bank charter, Nubank will bypass the fragmented state-by-state licensing system, allowing for uniform service delivery across all 50 states.

This move mirrors a broader trend where fintech and crypto leaders are trading "regulatory light" models for the credibility of federal oversight. In December 2025, the OCC granted similar conditional approvals to Circle and Ripple to establish national trust banks, while firms like BitGo, Paxos, and Fidelity Digital Assets were cleared to convert their state charters to national status. This flight to quality follows the recent launch of the NYSE's blockchain trading platform, as the industry shifts toward "fully on-chain" but strictly regulated market infrastructure.

The U.S. bank will be steered by a leadership team with unparalleled experience in digital transformation. Cristina Junqueira, as CEO of the emerging U.S. business, brings a decade of experience in scaling Nubank's transparent financial products. Joining her is Roberto Campos Neto, whose tenure as Brazil's central banker saw the revolutionary launch of the Pix instant payment system. His expertise is expected to be pivotal as Nubank navigates the upcoming Senate markups of the CLarity Act, which aims to define the federal oversight for digital asset market structures.

Nubank's crypto strategy has been building toward this moment for years. Since partnering with Paxos in 2022 to allow customers to buy and sell Bitcoin, the firm has steadily added tokens like Cardano and Cosmos to its ecosystem. The U.S. charter will allow Nubank to offer fiduciary digital asset custody directly to American consumers, potentially integrating these holdings with traditional credit products. This aligns with the recent Davos defense of stablecoin yields by Circle’s Jeremy Allaire, where industry leaders argued that regulated digital dollars are the essential rail for the future of commerce.

The path to opening the doors of Nubank, N.A. involves a strict timeline. Regulators require the bank to be fully capitalized within 12 months and operational within 18 months. During this organization phase, the team will satisfy specific capitalization and supervisory conditions set by the OCC. Nubank also plans to establish strategic hubs in Miami, the San Francisco Bay Area, and the North Carolina Research Triangle, positioning itself in key centers of technological and financial innovation.

As the ERC-20 stablecoin market cap records its first major cycle drop, the entry of a massive, profitable player like Nubank into the U.S. banking sector provides a stabilizing force. With a record revenue of $4.2 billion in Q3 2025 and a highly engaged user base, Nubank enters the U.S. market from a position of financial strength that few "challenger" banks have ever matched. For the 40 million users currently utilizing MEXC’s tokenized stock pairs, the emergence of a regulated, digital-first national bank signals that the convergence of Wall Street and Web3 is no longer a "pure fantasy," but a looming reality for 2027.

Quotes and Expert Opinions

“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, this step allows us to build the next generation of banking in the United States.” — David Vélez, Founder and CEO of Nu Holdings

FAQs

What does the conditional approval from the OCC mean for Nubank?
It means Nubank has cleared the first major hurdle to becoming a U.S. national bank. The company now enters an "organization phase" where it must meet specific capital and risk management requirements before it can receive final approval to open to the public.

Who will lead the new U.S. bank?
Cristina Junqueira, co-founder of Nubank, has relocated to the United States to serve as the CEO of Nubank, N.A. The Board of Directors will be chaired by Roberto Campos Neto, the former President of the Central Bank of Brazil.

When will Nubank open to customers in the U.S.?
Regulators require the bank to begin operations within 18 months of the conditional approval. This places the expected launch in the second half of 2027, subject to satisfying all OCC, FDIC, and Federal Reserve conditions.

Will Nubank offer cryptocurrency services in the U.S.?
Yes. The national bank charter will allow Nubank to offer digital asset custody, as well as deposit accounts, credit cards, and lending. This builds on their existing crypto infrastructure in Latin America, where they already support 20 different tokens.

How does this differ from the licenses granted to Circle or Ripple?
Circle and Ripple received conditional approval for "national trust bank" charters. These allow for fiduciary and digital asset custody services but generally do not allow for taking cash deposits or making consumer loans. Nubank is pursuing a "full" national bank charter that includes those traditional services.