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Nu, Latin America’s Largest Digital Bank, Plans U.S.-Compliant Bank

According to NADA NEWS (news outlet), Nu is advancing plans to establish a bank compliant with U.S. law; the brief report does not specify the banking charter type, timeline, or whether crypto custody (secure storage of digital assets) is contemplated.

Summary

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Terms & Concepts
  • Crypto custody: Secure storage and management of digital assets by a regulated institution or service provider.
  • Banking charter: A license authorizing a bank to operate, granted by U.S. federal or state authorities.
  • Digital bank: A primarily app-based bank offering services online without traditional branches.