SAO PAULO (Reuters) -Brazilian digital lender Nubank said on Tuesday it had applied for a national bank charter to operate in the United States, in its most concrete step so far toward an expansion outside Latin America.
The decision “is aligned with the company’s intention to explore future international opportunities by evolving its regional platform into a global model,” Nubank said in a statement.
Chief Executive Officer David Velez said that the lender’s core focus remains on delivering growth in its existing markets, Brazil, Mexico and Colombia.
Velez said that the application could help Nubank to serve customers already based in the U.S. and, “in the future, connect with those who share similar financial needs and could benefit from our products and services.”
Executives at Nubank had said the firm was preparing to unveil an expansion to a new market.
Nubank, which is listed in the U.S. through Nu Holdings, said former Brazilian central bank chief Roberto Campos Neto will chair the board of directors of its U.S. business.
(Reporting by Andre Romani, Alberto Alerigi Jr. and Paula Arend Laier; Editing by Kylie Madry)
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