The project will be led by co-founder Cristiane Junqueira; former president of the Central Bank of Brazil Roberto Campos Neto will head the fintech’s North American Board of Directors
The United States Office of the Comptroller of the Currency (OCC) approved this Thursday (29) the national banking license requested by Nubank. With the approval of the agency, the Brazilian fintech will be able to operate as a bank. According to rules from North American regulators, the financial institution must open an establishment in the country within 18 months.
“The conditional approval represents a milestone in the company’s long-term strategy to expand its operational presence and product offerings in the United States,” stated the in a statement to investors.
In the report, the founder and executive director of Nu Holdings, David Vélez, said that the permission “is an opportunity to prove the thesis that a model digital-firstcustomer-centric, is the future of global financial services.” He further considered that, despite the US endorsement, fintech “will continue to focus on the main markets in Brazil, Mexico and Colombia”.
The venture in the United States will be led by co-founder Cristina Junqueira. Former president of the Brazilian Central Bank will head the Board of Directors of Nubank’s North American arm.
The approval came amid Nubank’s efforts to expand the operation. On Monday (26), fintech announced that in Brazil and abroad. In this Thursday’s statement, the financial institution said it will establish “hubs strategic areas” in Miami, in the north of the state of Virginia and in the so-called Research Triangle, located in North Carolina.
