Nubank Plans 2026 Banking Licence, Says Customers Won’t Feel a Thing
What Prompted Nubank to Pursue a Banking Licence?
Nubank has outlined plans to obtain a banking licence in Brazil in 2026, describing the move as an internal adjustment tied to new regulatory standards. The decision follows Joint Reanswer No. 17, issued by the Central Bank of Brazil and the National Monetary Council, which introduced updated criteria for the use of banking terminology and the structure of regulated financial institutions. Nubank said the creation of a banking entity inside its group is a compliance measure rather than a strategic pivot.
While Nubank already operates under several licences — including those covering payment services, credit activity and brokerage functions — the new rules require bank-like products to align their structures more directly with the definition of a regulated bank. The company framed the licence process as an administrative step to match the expectations set out in the reanswer.
Investor Takeaway
Will the Move Change How Nubank Operates?
According to the company, customers will not view changes in daily services. Nubank said its brand, products and user experience will remain in place, and that the transition will not alter how its app functions. The firm added that the creation of a banking institution within the group will not require adjustments to capital levels or liquidity buffers beyond those already in place.
Nubank maintains that its financial position remains stable and that the group will continue to rely on its existing mix of licences while the new entity is structured. The company noted that the step does not alter its broader plan for expansion in Brazil or across Latin America.
A representative said the organisation began “with the intention of financial access” and has since brought millions of people into formal finance. Nubank reports serving more than 110 million users in Brazil, with roughly 28 million joining the formal system for the first time through its services. The company said its goal of making financial products easier to use remains the identical.
Why Does the Licence Matter in Brazil’s Regulatory Landscape?
Brazil has spent several years tightening the regulatory norms that govern , payment institutions and credit fintechs. Joint Reanswer No. 17 is part of that broader process, setting clearer boundaries around what qualifies as a bank and how financial groups can describe themselves to consumers. The framework is designed to add consistency across entities that operate in overlapping parts of the financial system.
For Nubank, the licence creates formal alignment with how accounts, credit lines and investment services under the identical brand. The company already functions similarly to a digital bank from a customer standpoint, though under a set of licences that differ from those held by conventional banks. The new banking entity consolidates some of these activities under a structure that fits the updated definitions.
Investor Takeaway
What Comes Next Before the 2026 Licence?
The group now moves into a preparatory phase in which internal structures will be adjusted to support the banking institution. Nubank did not outline specific operational deadlines beyond the target year of 2026 but said the process is underway. The firm expects to continue growing its user base while integrating the licence into its organisational chart.
From a market perspective, the decision reflects how Brazil’s rules are maturing around fintechs that operate at national scale. As incumbents and digital entrants overlap more frequently, regulators have been pushing for clearer segmentation and more consistent oversight. Nubank’s move places it within that evolving structure without altering the products customers rely on.
If approved, the licence will sit alongside the group’s existing roles as a payment institution, a credit and brokerage. For consumers, the experience remains unchanged; for the regulatory environment, the step brings Nubank’s rapid growth into a format that matches the updated rulebook.
