The CNBV approval lets the digital bank add payroll and checking accounts, raise deposit limits and broaden lending as it targets about $4.2 billion of investment by 2030.
Nu Holdings, the parent of crypto-friendly digital bank Nubank, has received a full banking license in Mexico from the Comision Nacional Bancaria y de Valores, the country’s banking regulator. The approval allows Nubank to offer payroll and checking accounts, increase deposit limits and expand its range of loan products. The move deepens the company’s push in Mexico, where it entered in 2019, has invested billions and now serves more than 15 million customers. CEO David Vélez said total investment in the country is expected to reach about $4.2 billion by 2030, underscoring Mexico’s importance to Nubank’s longer-term growth plans.