Nubank Secures Brazil Banking License to Keep Iconic Name

Nubank Gets Official Banking Status in Brazil

Digital financial provider Nubank has cleared a key regulatory milestone in Latin America. The company received final approval from the Central Bank of Brazil to complete its acquisition of Banco Porto Real de Investimentos S/A.

This acquisition allows Nubank to legally operate as a fully licensed bank in Brazil, which serves as its primary market. Crucially, the move resolves a regulatory challenge that threatened to force the company to drop the word 'bank' from its brand name.

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Why Nubank Needed a Full Banking License

The need for a full license stems from Joint Resolution No. 17, which was issued on November 28, 2025, by the Central Bank of Brazil and the National Monetary Council.

This regulatory resolution mandates that financial institutions use terminology that accurately reflects their approved scope of business. The rule aims to improve market transparency and prevent consumer confusion regarding unauthorized financial activities.

Because Nubank previously operated under alternative licenses, local regulators pressured the firm to adjust its moniker. Securing the license lets Nubank keep its established name while integrating full banking authorization alongside its payment institution, credit, financing, investment, and securities brokerage activities.

Executive Statements on Trust and Compliance

Company leadership highlighted that obtaining the banking license strengthens trust among its client base while deepening its commitment to local financial standards.

"Trust is built on transparency and respect for the people who choose Nubank. The banking license continues that path and reinforces our commitment to those who stand by us and to the national financial system," declared Livia Chanes, CEO of Nubank for Brazil and Latin America.

Key Performance Metrics in Brazil

Brazil remains Nubank's largest market, supported by substantial local investments and rapid customer adoption across multiple financial services.

• 45 Billion Reais ($7.9 Billion) total investment deployed in the Brazilian market.
• 120 Million Customers in Brazil, contributing to a global total of 140 million users across all markets.
• 65% of the Adult Population in Brazil currently uses Nubank's platform.
• 86.3% Active Customer Rate achieved in Q3, marking seven consecutive quarters of engagement growth.
• 1 in Every 5 Adults accesses account credit or crypto investment features via the Nubank app.

International Growth and Crypto Integration

Beyond Brazil, Nubank is expanding its regulatory footprint into the United States. Following conditional approval from the Office of the Comptroller of the Currency (OCC) in January, Nubank announced its official U.S. push in September by partnering with Kansas City-based Lead Bank under a bank partner model.

To support international financial transfers, the platform introduced Nu Global, a USDC-based account. The product enables users to move funds across borders and complete payments using cryptocurrency via an associated credit card.

"We want to earn the place of being people's primary banking relationship, and capturing even a small share of the U.S. market will be transformative for our business," said Cristina Junqueira, co-founder and CEO of Nu U.S.

The Broader Market Opportunity in Mexico

In addition to Brazil and the United States, Nubank and competing neobank Revolut are focusing heavily on Mexico, which represents an estimated $40 billion market opportunity.

Both institutions are expanding their operational footprints in Mexico to capture growing consumer demand for digital banking and cross-border payment solutions.