Nubank obtains Mexican banking license and plans to invest $4.2 billion

According to Bloomberg, Nu Holdings has been granted a formal banking license by the Mexican financial regulatory agency Comision Nacional Bancaria y de Valores to operate payroll accounts, current accounts, deposits, and loans locally. Since entering Mexico in 2019, Nubank has invested billions of dollars and currently has over 15 million customers, accounting for approximately 15% of the local adult population. Founder and Global CEO David V é lez stated that the total investment in Mexico is expected to reach approximately $4.2 billion by 2030.