Nubank is now a bank in Mexico: learn about the new services it will offer.

Banking in Mexico has just opened a new chapter. Nubank , the Brazilian-born financial giant, announced this Thursday that it has received a banking operating license from the National Banking and Securities Commission (CNBV) , thus consolidating its presence in the Mexican market.

Since its arrival in 2019, Nubank has continued to grow. With 10 million clients —almost a quarter of the banked population—it now seeks to transform its impact: moving from a Popular Financial Company ( Sofipo ) to a full-fledged banking institution.

The news sets a precedent: it is the first time that a Sofipo has obtained permission from the CNBV to operate as a bank in Mexico.

Nubank's leap is not merely symbolic. With this license, the firm promises to significantly expand its offering:

• Payroll accounts: You can receive your salary directly from Nubank, a market dominated by just five major banks.
• Increased deposit limits: Ideal for those looking to safely manage larger amounts of money.
• IPAB Coverage: All deposits will be protected by the Institute for the Protection of Bank Savings .
• Business Services: The launch of business accounts is in preparation, expanding service to SMEs and businesses.
• New premium card: Inspired by Brazil's popular 'Ultravioleta,' a product for customers seeking exclusive benefits.

In addition, Nubank confirmed a cumulative investment of $1.4 billion in Mexico, demonstrating its long-term commitment.

Since its founding in 2013 in Brazil by David Vélez , Nubank has positioned itself as the fourth largest bank in terms of customers in that country, competing head-to-head with titans such as Itaú and Bradesco.

Today, with more than 100 million customers across Brazil, Mexico, and Colombia, Nubank demonstrates that digital banking isn't the future: it's the present.

In Mexico, its $4.5 billion in deposits support growing trust among users, who value its simple, accessible, and digital services.

Next year will be crucial for Nubank. The strategy is clear: diversify products, expand its service network, and consolidate its position as a major player in Mexican banking .

The combination of technology, user experience, and tailored financial services promises to change the way Mexicans interact with their money.

Thus, Nubank will not only seek to attract more individual customers, but also penetrate corporate sectors and consolidate its leadership in banking innovation.

Nubank's approval to operate as a bank marks a turning point in the Mexican financial industry. Increased competition, improved products and services focused on user experience, herald a significant transformation in the coming years.

The future of digital banking has arrived in Mexico, and Nubank wants to be a leader.

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