MEXICO CITY, April 24 (Reuters) - Brazil's Nubank, one of the fastest-growing digital lenders in the world, said its Mexico subsidiary received regulatory approval from the Mexican National Banking and Securities Commission to begin the process of becoming a full-service bank.
In a securities filing, Nu Holdings, the listed entity which runs Nubank, said the next step in the process would be a testing phase, where Nu Mexico's systems and processes will be evaluated before moving on to final authorization by regulators.
(Reporting by Andre Romani; Writing by Brendan O'Boyle)
((Brendan.OBoyle@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.