Digital financial services giant Nu received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a new national bank in the United States, according to a Thursday (Jan. 29) press release. The national bank charter will eventually allow Nu to operate under a federal framework, facilitating the launch of deposit accounts, credit cards, lending and digital asset custody in the U.S. Junqueira noted that the federal approval is a “significant step” toward becoming a regulated, competitive institution in the American market. Regulatory requirements dictate that the company must fully capitalize the institution within 12 months and open the bank within 18 months. Advertisement: Scroll to ContinueIn tandem with the charter approval, Nu plans to establish strategic U.S. hubs in Miami, the San Francisco Bay Area, Northern Virginia, and North Carolina’s Research Triangle.