Nubank Gets OCC Conditional Approval to Form U.S. National Bank, 12–18 Month Timeline

The U.S. OCC granted Nubank conditional authority to organize a national bank 121 days after its September 30, 2025 application. Regulators set 12 months to complete capitalization and 18 months to launch, alongside separate authorizations from the FDIC and Federal Reserve. The charter would enable deposits, cards, lending, and federally supervised digital asset custody.