Nubank Unit Secures Authorization to Become Mexican Bank

Digital bank Nubank ’s Mexican operation, Nu Mexico , has received authorization to begin operations as a bank and now has 30 calendar days to complete its transformation into a bank, the company said in a Friday (July 10) press release . Nu received the authorization from the National Banking and Securities Commission (CNBV), and the company will become a bank in a process supervised the CNBV, the Bank of Mexico and the Ministry of Finance and Public Credit , according to the release.