Nu Mexico Gets the License That Changes Everything
Hey Digital Banking Fanatic!
Mexico's digital banking market just reached another turning point.
Nu Mexico has received regulatory approval to begin operating as a bank, completing a transition that few FinTechs manage to achieve. With more than 15 million customers, the company is now set to become the country's largest digital bank.
The approval gives Nu far more than a new regulatory status. It allows the company to build its banking business on its own license as it continues expanding lending, savings, and other financial products across one of Latin America's fastest-growing banking markets.
There's much more waiting below.
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HOW DIGITAL BANKING PERFORMED LAST WEEK
📈 A snapshot of last week’s stock moves across Digital Banking:
NEWS
🇲🇽 Openbank Mexico, Mastercard and Cinépolis partner to launch new digital credit card in the country. The launch marks the bank's first co-branded card globally and Cinépolis' first branded credit card, combining digital banking with rewards linked to the Club Cinépolis loyalty program. The offering underscores how banks, payment networks, and brands are expanding digital-first financial products with loyalty features.
🇵🇠GoTyme Bank has surpassed 10 million users in the Philippines, nearly four years after launching. The digital bank now holds about US$861 million in deposits, with customers able to deposit and withdraw cash through thousands of Robinsons and 7-Eleven locations nationwide.
🇲🇽 Nu Mexico has received regulatory authorization to begin operations as a bank. With more than 15 million customers, the company will become Mexico’s largest digital bank after completing its transformation from a SOFIPO, with the process supervised by the country’s financial authorities.
🇺🇸 Anchorage Digital has partnered with Linework to provide custody and treasury infrastructure for the FinTech’s digital asset operations. The agreement includes custody of Linework’s LNWK tokens and supports treasury management as the company prepares for a planned Nasdaq listing.
🇬🇧 Revolut has integrated its crypto exchange, Revolut X, with AI assistants including Claude, Gemini, Cursor and OpenClaw. The feature lets users analyze markets, monitor portfolios, and place trades using natural language, while requiring approval before any order is executed.
🇺🇸 Circle has received final OCC approval to establish Circle National Trust, a national trust bank. The charter enables federally regulated digital asset custody services, strengthens USDC’s infrastructure, and brings the bank under direct oversight by the U.S. Office of the Comptroller of the Currency.
🇬🇧 Starling Bank has launched two free tools for small business customers: Expense Cards and Team Access. The new features let business owners delegate spending, share account visibility with team members, and maintain control through spending limits, read-only access, and real-time notifications.
🇲🇳 KakaoBank has signed a term sheet to invest in Mongolia’s M Bank, with plans to complete the deal this year. The partnership will introduce KakaoBank’s AI-powered credit scoring technology to enhance lending while supporting joint digital banking products and services, as the company expands its presence from Southeast Asia into Central Asia.
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