TechFlow news: On January 30, according to CoinDesk, Nubank (NYSE: NU), Latin America’s largest digital bank, received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a branch and offer services in the United States.
Once final approval is granted, Nubank will be able to offer deposit accounts, credit cards, loans, and digital asset custody services under a comprehensive federal banking regulatory framework. Prior to officially launching operations, Nubank must satisfy specific conditions set by the OCC and obtain approvals from both the U.S. Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve.
Regulatory requirements mandate that Nubank complete institutional capitalization within 12 months and open a bank within 18 months. The company has already begun establishing operational centers in Miami, the San Francisco Bay Area, Northern Virginia, and North Carolina’s Research Triangle.
