Nu Mexico has received authorization from the National Banking and Securities Commission (CNBV) to begin operations as a bank. With more than 15 million customers, Nu becomes the largest digital bank in the country, following a process supervised by the CNBV, the Bank of Mexico, and the Ministry of Finance and Public Credit.
The company’s customer base represents approximately 15% of Mexico’s adult population.
“We are building a new way of delivering financial services in Mexico, one truly centered on people. The authorization we receive and the growth we have achieved confirm that this model works and has the potential to transform the relationship millions of people have with their money. Mexico is a key market for Nubank, and this is a decisive step in our long-term commitment to the country, with a total projected investment of USD 4.2 billion through 2030,” said David Vélez, founder and Global CEO of Nubank.
Nu currently adds 12,000 new customers per day and has a presence in 98% of the country’s municipalities. 54% of its customers received their first credit card through Nu, and 60% of its users save with the platform.
“Receiving authorization after an unprecedented process of transforming from a SOFIPO into a bank is a milestone we have not reached alone. We got here alongside millions of Mexicans who have placed their trust in Nu to transform the way they relate to their money. We are ready to keep building with them the financial experience they deserve,” said Armando Herrera, CEO of Nu Mexico.
Nubank entered the Mexican market in 2019, its first international expansion. For the first quarter of 2026, Nu Mexico reached breakeven, improving its efficiency ratio by 78 percentage points and surpassing $5.9 billion dollars in deposits.
Nu Mexico launched its first product in 2020, a no-fee credit card. Its portfolio now includes the Cuenta Nu savings account, Cajita Turbo, the Scam Alert fraud-protection feature, personal loans, and secured cards.