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Brazilian fintech giant Nubank has received final regulatory authorisation to begin operating as a fully licensed bank in Mexico, marking a major milestone in the company’s expansion strategy across Latin America.
The approval follows the banking licence granted by Mexico’s National Banking and Securities Commission (CNBV)in 2025, which enabled Nu Mexico to transition from operating as a Popular Financial Society (SOFIPO) to a full-service banking institution.
According to the company, the latest authorisation comes after successfully completing a comprehensive regulatory review. Nubank now has 30 calendar days to finalise its operational transition and commence banking services under its new licence.
With more than 15 million customers, Nu Mexico is expected to become the country’s largest digital bank, strengthening its position in one of Latin America’s fastest-growing digital financial services markets.
Mexico became Nubank’s first international market outside Brazil when the company launched its credit card offering in 2020. Since then, it has expanded its product portfolio to include savings accounts, personal loans, and secured credit cards, broadening access to digital financial services for consumers.
Commenting on the development, David Vélez, Founder and Global Chief Executive Officer of Nubank, said the approval validates the company’s customer-centric approach to banking.
He noted that the transition to a fully licensed bank represents an important step in transforming how millions of Mexicans access and manage financial services.
Vélez also reaffirmed Mexico’s strategic importance to the company, revealing plans to invest approximately US$4.2 billion in the country through 2030 as part of its long-term growth strategy.
The banking licence further strengthens Nubank’s regional expansion, complementing its operations in Brazil and Colombia, where it has continued to broaden its digital banking offerings.
Beyond Latin America, the fintech company is also pursuing expansion into the United States. Earlier this year, Nubank received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a new national bank, signalling its ambitions to extend its digital banking model into one of the world’s largest financial markets.
The latest regulatory approval underscores Nubank’s continued evolution from a digital payments and lending platform into a full-service international banking group, positioning the company to deepen financial inclusion and expand digital banking adoption across key global markets.
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