Nubank has obtained a foreign-exchange licence from Brazil’s Central Bank and launched three inflation-linked ETFs, marking a significant expansion of its financial ecosystem in its home market.
The digital lender, operating under the entity Nu Pagamentos, received the FX authorisation on 6 July, followed by the debut of the Tesouro-IPCA exchange-traded funds on 16 July.
These moves allow the company to offer more sophisticated investment and currency products to its retail and corporate clients, moving beyond its traditional digital banking and credit offerings.
The launch of the Tesouro-IPCA ETFs is particularly notable given Brazil’s high inflation environment, where inflation-linked government bonds are a staple for local investors seeking real returns.
By providing direct access to these instruments through ETFs, Nubank is capturing a segment of the market previously dominated by traditional banks and wealth managers.
The FX licence further enhances its ability to serve clients with international trade or travel needs, a critical capability in a country with significant currency volatility.