Nubank receives Mexican banking license, plans to accelerate local business expansion

Odaily Planet Daily News: Nu Holdings, the parent company of Brazil's crypto-friendly digital bank Nubank, has received an official banking license from Mexican financial regulator Comision Nacional Bancaria y de Valores. This license allows it to offer services such as payroll accounts, checking accounts, higher-limit deposits, and a wider range of loan products in the country. Since entering Mexico in 2019, Nubank has invested billions of dollars and currently serves over 15 million customers, representing approximately 15% of the local adult population. Founder and Global CEO David Vélez stated that the company's total investment in Mexico is expected to reach about $4.2 billion by 2030. (Bloomberg)