Nubank
Started after David Vélez's kafkaesque São Paulo branch visit; now Latin America's most valuable financial institution and, since September 2026, a US challenger too — 139M customers across four countries.
139M customers (Q2 2026) and the first quarter above $1B net income; launched in the US in September 2026 on Lead Bank rails while its own OCC charter is organised.
- Who holds it
- The company itself — it holds a full banking licence — Bank licenses BR/MX/CO; US products on Lead Bank while its conditional OCC charter (Jan 2026) is organised.
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Nubank’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| AI | AI underwriting in production |
| HQ | São Paulo, BR |
| Founded | 2013 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Bank licenses BR/MX/CO; US products on Lead Bank while its conditional OCC charter (Jan 2026) is organised |
| Card | MC · Credit + debit |
| Yield | ~100% CDI |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Latin America |
| Countries | Brazil, Mexico, Colombia, United States |
| Reported users | 139M customers (Q2 2026) |
| Founders | David Vélez, Cristina Junqueira, Edward Wible |
| Funding | Public (NU) |
| Services | crypto on-ramp · crypto off-ramp · fiat pay-in (bank rails) · fiat pay-out (bank rails) · own IBAN / account no. · multi-currency hold · virtual cards |
Verified links: official site ↗ · @nubank ↗
Common questions about Nubank
What is Nubank?
Nubank is a fiat neobank, headquartered in São Paulo, BR and founded in 2013. Your money is held custodially, so Nubank or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Bank licenses BR/MX/CO; US products on Lead Bank while its conditional OCC charter (Jan 2026) is organised).
Does Nubank have a card, and where can you use it?
It issues a Mastercard credit and debit card. It is available in 4 countries, across Latin America.
Does Nubank require KYC?
Yes. Nubank requires identity verification (KYC) to open an account, as a licensed bank.
What does Nubank cost?
From the verified fields: yield ~100% CDI. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Nubank before relying on them.
Early investors
Head-to-head
Nubank vs Banco Inter · Nubank vs C6 Bank · Nubank vs Ualá · Nubank vs Neon · Nubank vs PicPay
Peers
Wise · Banco Inter · PicPay · PagBank · Nequi · Ualá
Nubank appears in
Neobanks that hold their own banking license (132) · Neobanks that require identity verification (334) · Neobanks available in Latin America (114) · Neobanks that issue a Mastercard (150) · Neobanks in Brazil (11)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.