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Latin America’s biggest digital bank just won a key battle to offer crypto custody in U.S.

2026/01/30 20:01
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Latin America’s biggest digital bank just won a key battle to offer crypto custody in U.S.

The Brazilian digital bank announced it received conditional OCC approval to provide deposit accounts, credit cards, lending and digital asset custody in the United States.

By Olivier Acuna|Edited by Jamie Crawley
Jan 30, 2026, 12:01 p.m.
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Nubank, which offers crypto asset custody and other banking services, secures OCC conditional approval to branch out in the U.S. (Photo: Provided by Nubank Press Office/Modified by CoinDesk)

What to know:

  • Nu, Latin America's largest digital bank, has received conditional approval from the U.S. Office of the Comptroller of the Currency to open a branch in the United States.
  • Once fully approved, Nubank plans to offer deposit accounts, credit cards, lending and digital asset custody services under a comprehensive federal banking framework.
  • Before launching, Nubank must satisfy OCC conditions, secure approvals from the FDIC and Federal Reserve, fully capitalize the institution within 12 months and open the bank within 18 months.

Latin America's largest digital bank has taken steps toward being able to offer crypto custody in the U.S.

São Paulo-based Nu (NYSE: NU), which has 127 million customers, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to branch in the United States, the bank announced on Thursday

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Nubank said that once fully approved, the OCC would allow it to operate under a comprehensive federal framework, facilitating the launch of deposit accounts, credit cards, lending, and digital asset custody. It also said it has already begun working to establish hubs in Miami, the San Francisco Bay Area, Northern Virginia, and the North Carolina Research Triangle.

The approval comes as U.S. regulators signal a shift from enforcement-first oversight to broader supervision of crypto banking with the OCC publicly acknowledging that crypto “debanking” is a real concern and defending broader access for digital asset firms. It also highlights that fact that federally regulated institutions may soon offer crypto services under mainstream banking frameworks

The next steps for Nubank, while it receives the final green light, involve meeting specific OCC conditions and obtaining pending approvals from the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve. During this phase, the company will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months, as required by U.S. regulators.

NubankOCCbanksCrypto Custody

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