Nubank Secures Brazil Banking License to Save Its Iconic Name - Bitcoin News
Nubank has obtained a Brazilian banking license, allowing the company to keep its name after regulators threatened to force a rebrand.
Nubank, one of the largest digital banks in Latin America, received approval from the Central Bank of Brazil to complete the acquisition of Banco Porto Real de Investimentos S/A. The transaction, announced in July, resolves a compliance issue tied to Joint Resolution No. 17, issued on November 28, 2025, by the Central Bank and the National Monetary Council.
The resolution mandates that financial institutions use names clearly informing about their business type and services. Nubank can now maintain its name while adding banking activities to its existing payment institution, credit, financing, investment, and securities brokerage operations.
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.
Brazil is Nubank’s primary market, where it has invested 45 billion reais ($7.9 billion). The company serves 65% of the adult population, with active user rates rising to a record 86.3% in the third quarter.
Expansion Plans
The banking license supports Nubank’s broader strategy to become a primary banking relationship for its customers. The company recently expanded into the U.S. after receiving conditional approval from the Office of the Comptroller of the Currency in January.
In partnership with Kansas City-based Lead Bank, Nubank offers its services under a bank partner model in the United States. This expansion allows the company to leverage its presence for new financial products.
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.
Nubank launched Nu Global, a USDC-based account, to facilitate cross-border money transfers and crypto payments. The service includes an associated credit card for users to pay with cryptocurrency.
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