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Crypto-friendly bank Nubank obtains a banking license in Mexico, plans to accelerate local business expansion

2026-07-10 15:07:44

Mars Finance news: According to Bloomberg, Nu Holdings, the parent company of the Brazil crypto-friendly digital bank Nubank, has been issued an official bank license by Mexico’s financial regulator, Comision Nacional Bancaria y de Valores, enabling it to carry out local business such as salary accounts, current accounts, deposits with higher limits, and more loan products. Since Nubank entered Mexico in 2019, it has invested billions of dollars; its current customer base exceeds 15 million, accounting for about 15% of the country’s adult population. Founder and Global CEO David Vélez said he expects total investment in Mexico to reach about $4.2 billion by 2030. Obtaining a full bank license is expected to help Nubank replace some wholesale funding with low-cost deposits, and directly compete with Mexico’s large traditional banks as well as fintech firms like Revolut and Klar.

NU0.69%

KLAR-1.85%

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