Nubank Considers UK ???? Move for Global Expansion, Including US ????

Hey Digital Banking Fanatic!

Nu, the company behind Latin America's most valuable lender Nubank, is evaluating a potential move of its legal domicile to Britain, as revealed by David Velez, founder and CEO, in an interview at the World Economic Forum in Davos.

"We are actively thinking what are some of the jurisdictions that make sense for us to consider, as we think about the next 10 years of global expansion," Velez said on Monday. "We are considering the UK," he added, while cautioning that tax changes bring "uncertainty in terms of jurisdiction and where to operate," Velez said in an interview on the sidelines of the World Economic Forum's annual meeting in Davos.

With over 100 million customers across Brazil, Mexico, and Colombia, Nubank is exploring global expansion opportunities. Velez noted that under the new U.S. administration's approach to FinTech and crypto regulation, the U.S. market has become more attractive for potential entry, citing that a streamlining of regulatory agencies could create a more favorable environment for new players.

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