Latin America's Largest Digital Bank Nubank Receives Conditional OCC Approval to Offer Digital Asset Custody Services in the US

Odaily News Latin America's largest digital bank, Nubank, announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to open a branch in the United States. Upon receiving final approval, Nubank plans to offer deposit accounts, credit cards, loans, and digital asset custody services under the federal banking framework. Before officially launching these services, Nubank must meet relevant OCC conditions and obtain approvals from the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve. Nubank is required to complete capitalization within 12 months and commence formal operations within 18 months. Currently, Nubank has begun establishing hubs in Miami, the San Francisco Bay Area, Northern Virginia, and the Research Triangle region of North Carolina.