Nubank Receives Mexican Banking License, Plans to Accelerate Local Business Expansion
Svmuu News: Nu Holdings, the parent company of Brazil’s crypto-friendly digital bank Nubank, has been granted an official banking license by Mexico’s financial regulator, the Comisión Nacional Bancaria y de Valores (CNBV), allowing it to offer services such as payroll accounts, checking accounts, higher-limit deposit accounts, and a wider range of loan products in Mexico. Since entering Mexico in 2019, Nubank has invested billions of dollars and currently has over 15 million customers, representing approximately 15% of the country’s adult population. Founder and Global CEO David Vélez stated that total investment in Mexico is expected to reach approximately $4.2 billion by 2030. (Bloomberg)
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