Nubank has announced plans to acquire a banking licence in Brazil by 2026, indicating an internal restructuring.

This step comes after the issuance of Joint Resolution No. 17 by the Central Bank of Brazil and the National Monetary Council, which governs the use of banking terminology and organisation within regulated financial entities. Nubank explained that this move is a compliance measure required by these regulations.

Adjustment in Nubank’s organizational structure

The company stated that the transition will not impact customers, as services are expected to continue without change and the brand name will remain the same. Currently, Nubank operates with multiple licences, including those for a Payment Institution, Credit, Financing and Investment Company, and Securities Brokerage Firm. The inclusion of a bank within its group structure is anticipated not to significantly alter capital or liquidity requirements, and the firm asserts that its financial stability remains intact.

Nubank serves over 110 million users in Brazil, an increase from its initial launch more than a decade ago. According to Nubank, the organisation started with the goal of expanding financial access and has brought about 28 million people into formal financial services since then. The firm continues to aim at simplifying customer interactions with financial products.

Although creating a banking institution adds an extra layer of regulatory classification, Nubank emphasizes that it does not significantly affect day-to-day operations. Instead, the decision is seen as a necessary administrative step to meet updated regulatory requirements without altering strategic direction or market positioning.