Nubank Secures First U.S. Regulatory Clearance, Targets 2027 Bank Launch

Nubank has passed an early regulatory milestone that allows it to move forward with plans to establish a regulated banking entity in the United States, positioning the fintech to expand beyond its existing Latin American footprint. The approval represents the first formal nod from U.S. authorities permitting the creation of a U.S.-chartered unit tied to Nubank’s broader strategy of cross-border growth and product rollout. Executives will use this clearance to complete remaining steps — including capital plans, governance arrangements, and local licensing — before a planned operational start in 2027. For Nubank, a U.S. bank would enable deposit-taking, local lending and payments services under U.S. supervision, shortening the path to offering full retail banking to American customers. The move also has competitive implications: it signals to both incumbents and fellow challengers that Latin American fintechs can realistically transplant their models into major developed markets. For regulators and investors, the process will be watched for how Nubank adapts compliance, anti-money-laundering controls, and risk-management systems to U.S. norms. Financial implications include an anticipated shift in funding mix and potential new revenue streams from U.S. retail operations, although material returns are likely several years out as the unit scales. Market access could also help Nubank diversify currency and interest-rate exposures inherent in its current geography. The announcement reduces a principal regulatory uncertainty that had constrained strategic planning and investor forecasts for the firm’s North American ambitions. That said, conditional approvals still require follow-through on operational and supervisory conditions; failure to meet those could delay or alter the timetable. The 2027 launch target gives Nubank time to build local teams, secure technology and fulfill capital requirements, but also creates a window for competitive responses. For customers and partners, the development is a sign that Nubank intends to replicate its product-led growth outside Latin America while operating inside a stricter regulatory regime. Ultimately, the clearance is a meaningful, but not final, step toward making the company a multi-jurisdictional bank with deeper access to the global financial system.