Nubank Obtains Full Banking License in Mexico, 15M+ Customers, Plans $4.2B Investment by 2030

According to Bloomberg, Nubank's parent company Nu Holdings obtained a full banking license from Mexico's financial regulator, Comision Nacional Bancaria y de Valores, on July 10, enabling expanded operations including salary accounts, checking accounts, higher deposit limits, and increased lending products.

The fintech bank currently serves over 15 million customers in Mexico, representing approximately 15% of the adult population. CEO David Vélez stated the company expects total investment in Mexico to reach approximately $4.2 billion by 2030, positioning Nubank to compete directly with Mexico's major traditional banks and fintech competitors.