Nubank Secures OCC Approval for US Banking Push, Advances Crypto Custody Plans
Nubank cleared a critical regulatory hurdle with conditional approval from the Office of the Comptroller of the Currency to establish a US national bank. The MOVE accelerates its strategy to offer crypto custody services under federal oversight, positioning the Brazilian fintech giant for deeper penetration into North American markets.
The OCC's decision follows months of scrutiny and signals growing regulatory acceptance of digital banking models. Nubank must now meet capital requirements and secure additional approvals from the Federal Reserve and FDIC within 18 months to finalize its federal charter.
This development strengthens Nubank's competitive edge against traditional banks by combining conventional banking infrastructure with cryptocurrency capabilities. Market observers note the timing coincides with increasing institutional demand for regulated crypto custodial solutions.
