New York, Feb 7, 2026, 09:12 EST — The market is already closed.
Nu Holdings Ltd ended Friday up 3.5% at $17.40, wiping out the previous session’s 1.2% loss. The U.S.-listed shares moved in a range from $16.76 to $17.42, and volume came in around 52.6 million. 1
Markets are closed for the weekend, but all eyes are on Nu’s upcoming earnings—set for Feb. 25, per Investing.com. The Brazilian digital bank’s shares have started reacting sharply to even the smallest moves in growth, funding costs, or credit quality, and the stakes feel higher now as it outlines a broader U.S. strategy. 2
Risk appetite roared back Friday, driving the Dow past 50,000 for the first time ever. That milestone capped a rapid comeback following a week that saw tech jitters and software-sector stress spark selling. Reuters noted the strong rebound. 3
Nu, which owns Nubank, disclosed in a Jan. 29 filing that it’s cleared a key hurdle with the Office of the Comptroller of the Currency, landing conditional approval to set up a new national bank in the U.S.—Nubank, N.A. CEO David Vélez described the move as “an opportunity to prove our thesis that a digital-first, customer-centric model is the future of financial services globally.” Co-founder Cristina Junqueira called it “a significant step” on the path to being “a … competitive regulated institution in the US.”
Nu’s regulatory journey is drawing attention far beyond its own investors. Michele Alt, partner and co-founder at Klaros Group, told American Banker the decision “sends a strong signal to other charter applicants that the OCC is serious about adhering to its 120-day application review timeline and streamlining the process.” According to American Banker, Nu submitted its application on Sept. 30, securing conditional approval after 121 days. The company oversees $38.8 billion in deposits and reports a credit portfolio totaling $30.4 billion, per its latest results. 4
Nu isn’t ready for customers just yet. According to Banking Dive, the company remains in the organisation phase and still has to secure green lights from both the Federal Reserve and the Federal Deposit Insurance Corp. The plan calls for full capitalisation inside 12 months, with an 18-month timeline for opening doors.
For now, the lengthy timeline means the stock’s likely to swing on the next quarterly results. What matters: loan growth, delinquency rates, and just how much the company is pouring into customer acquisition and activation—particularly beyond Brazil. No room for messy numbers here.
The U.S. charter plan adds complexity. Sure, a national charter could let Nu roll out products under federal rules, but it’s a tradeoff—compliance gets harder, and management could get stretched, especially when investors are already scrutinizing costs.
There’s a flip side here. If regulators balk at governance, capital, or controls, conditional approvals could drag on. Rolling out in the U.S. would drive up costs long before revenue arrives in any real way. And if consumer credit takes a turn in Brazil, sentiment could sour fast.
Nu shares sit roughly 8% under their Jan. 29 high of $18.98, with the Feb. 25 earnings report looming as the next major event. Once markets open Monday, eyes will be on whether Friday’s bounce sticks — and if any regulatory shifts emerge ahead of earnings. 5
