Nu Mexico Receives Authorization to Begin Operations as a Bank
The new entity will become the largest digital bank in the country.
Nu Mexico has received authorization from the National Banking and Securities Commission (CNBV) to begin operations as a bank. With more than 15 million customers, Nu will become the largest digital bank in the country, following a process supervised by the CNBV, the Bank of Mexico, and the Ministry of Finance and Public Credit.
This authorization consolidates the model Nu has built in the country: simple, transparent, innovative, 100% digital, and customer-focused, which has allowed it to attract approximately 15% of the country's adult population.
"We are building a new way of delivering financial services in Mexico, one truly centered on people. The authorization we receive and the growth we have achieved confirm that this model works and has the potential to transform the relationship millions of people have with their money. Mexico is a key market for Nubank, and this is a decisive step in our long-term commitment to the country, with a total projected investment of USD 4.2 billion through 2030," said David Vélez, founder and Global CEO of Nubank.
