Brazil's Nubank Secures Banking License
Uk Jin
Summary
- Nubank received approval from Brazil's central bank to acquire Banco Porto Real de Investimentos.
- The acquisition gives Nubank a full banking license in Brazil, allowing it to keep its existing brand name.
- Nubank is one of Latin America's largest digital financial platforms, with about 120 million customers, and offers virtual-asset (cryptocurrency) investment services.
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Brazilian digital financial platform Nubank has secured a local banking license.
Bitcoin.com reported on November 15 that Brazil's central bank approved Nubank's acquisition of local investment bank Banco Porto Real de Investimentos.
The deal gives Nubank a full banking license in Brazil. The company had previously drawn regulatory scrutiny for using the word "Bank" in its name without holding a banking license. With the approval, it can keep its existing brand name.
Nubank is one of Latin America's largest digital financial platforms, with about 120 million customers in Brazil. It also offers virtual-asset, or cryptocurrency, investment services.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.