Nubank clears major hurdle in securing Mexico banking license

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.