​Nu Holdings (NU) Receives Approval to Set up a New National Bank in the US

​Nu Holdings Ltd. (NYSE:NU) is one of the High Growth International Stocks to Buy Now. On January 29, Nu Holdings Ltd. (NYSE:NU) announced that the Office of the Comptroller of the Currency (OCC) has given conditional approval to create a new national bank called Nubank.

​Nubank is a digital bank with 127 million customers mainly in Latin America, and this marks a stepping stone for its entry into the US market. Management noted that once they receive the complete approval, Nu will operate under a comprehensive federal framework and bring its app-based banking model to Americans. David Vélez, founder and CEO of Nu Holdings, noted,

​“This approval isn’t just an expansion of our operation; it’s an opportunity to prove our thesis that a digital-first, customer-centric model is the future of financial services globally.”

​Earlier on January 27, Susquehanna upgraded its price target for Nu Holdings Ltd. (NYSE:NU) from $19 to $22 and maintained a Buy rating. The firm noted Nu’s global expansion strategy to be a key driver for robust growth in 2026. The bank aims to replicate its digital-first model in the US market, which the firm believes is supported by its stable delinquency rates and robust unit economics.

​Nu Holdings Ltd. (NYSE:NU) provides a digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the US. It offers spending, transactional, savings & investing, borrowing, and protection solutions.

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Disclosure: None. This article is originally published at Insider Monkey.