From Sofipo to a full-fledged bank, both deposit insurance and loan products can be upgraded—real, tangible benefits for ordinary users in Mexico. Waiting for the follow-up data.

According to Bloomberg, Nubank’s Nu México, Brazil’s digital bank, has received final operating approval from Mexico’s National Banking and Securities Commission (CNBV), allowing it to officially launch banking services. Nu México was approved in April 2025 to transition from Popular Financial Company (Sofipo) into a bank, and has since been subject to regulatory audits. Once operations are officially launched, the company can roll out payroll accounts, increase deposit limits, and expand deposit insurance, while also expanding into more loan products. The company currently has more than 15 million customers in Mexico and plans to invest about $4.2 billion in the local area by 2030.