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Nu Mexico received authorization from the National Banking and Securities Commission (CNBV) to begin operations as a bank. With more than 15 million customers, Nu will be the largest digital bank in the country.

Also in this issue:

As a new step towards securing a banking license in Brazil, Nubank acquires Banco Porto Real
Livia Chanes is named CEO for Latin America, in addition to her role as CEO of Brazil
Nubank leads as Brazilians' primary financial institution across every region of the country, and is named Best Digital Bank in Latin America by Euromoney

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Nu Mexico will officially become a bank

Nu Mexico received authorization from the National Banking and Securities Commission (CNBV) to begin operations as a bank. Nu will be the first SOFIPO to complete this transformation in Mexico, and will become the largest digital bank in the country.

"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.

Banking License process in Brazil

Nubank acquired the bank Porto Real as part of the process to obtain a banking license in Brazil. This happens in compliance with a joint resolution by the Central Bank and the National Monetary Council to standardize brand usage for regulated institutions. There will be no impact for consumers, with all operations proceeding normally.

Nubank leads as Brazilians' primary financial institution across every region of the country, according to a new Data Nubank study. The research shows that Nubank's impact is even more pronounced where traditional banks are most absent.

Global Corporate Updates

Livia Chanes was named CEO for Latin America, expanding her role while also leading as CEO of Nubank Brazil. She will help export the successful Brazilian playbook, ensuring customers benefit faster from products and experiences already proven at scale. Livia will work with Armando Herrera in Mexico and Marcela Torres in Colombia, providing structural support while they continue to lead their respective markets.

New CPO Carl Rivera joined CDO Ethan Eismann and CTO Eric Young to discuss the product strategy driving Nubank's next wave of global expansion at the Nu Videocast. Carl shared his first impressions of Nu and highlighted how the company will leverage platformization and AI to scale. Available on YouTube and Spotify.

Nubank topped the Evident AI Index for Banks – Latam, which ranked the 20 largest and most AI-mature banks in the region based on four pillars: Talent, Innovation, Leadership, and Transparency. Nu was also named Latin America's Best Digital Bank by Euromoney Awards for Excellence 2026. This marks the third consecutive year Nu has been recognized among financial institutions that set the global standard in performance, innovation, and customer impact.

Nu in the news

Forbes detailed Nu's plan to expand into the "fortress" that is the US banking market through a surgical approach to addressing customer pain points.

OpenAI named David Vélez to its board, highlighting his track record using technology to reshape industries and create durable value for customers, alongside his strong commitment to philanthropy.

David met with Mexican President Claudia Sheinbaum and reinforced the commitment to a US$4.2 billion investment in the country by 2030. Expansión detailed his entrepreneurial journey, tracing his path from Goldman Sachs and Sequoia Capital to building Nubank, and highlighted Nu among Brazil's top companies operating in Mexico.

Nu Mexico received final CNBV authorization to operate as a bank. David shared that local growth reflects Nu's potential to transform how millions relate to their money. Armando Herrera highlighted that the milestone was reached alongside millions of Mexicans who placed their trust in Nu. Citi and XP reported that the news reinforces the company's long-term commitment to the country and will support its growth and portfolio expansion.

Bloomberg Línea highlighted the experience that Livia Chanes will bring to Mexico and Colombia as CEO for Latin America: under her leadership, Nubank added 50+ million customers.

Data Nubank showed that Nu has already banked 31.5 million people in Brazil, equivalent to nearly one in five adults in the country, CNBC reported. On the SME segment, Nu reaches over one-fifth of active CNPJs, totaling 6 million business customers.

Nubank is among the brands in Brazil most frequently cited by ChatGPT for innovation, according to a Ranqia report. Additionally, an op-ed in La República places Nu as the main example of AI transformation in business in Latin America.

A study by Reclame Aqui, the main consumer satisfaction platform in Brazil, ranked Nubank among the brands that attracted the most consumers in H1 2026, with over 1M searches on its platform.

In an op-ed, Zetta's Ricardo Barboza argued that rising competition doesn't weaken system stability, based on Global research and Brazilian Central Bank data.

(Articles in this section may be subject to a paywall and available to subscribers only, depending on the news outlet.)

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