Brazil's Nubank secures first approval for U.S. bank charter

SAO PAULO, Jan 29 (Reuters) - Brazilian digital lender Nubank has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a bank in the United States, the company said on Thursday in a securities filing.

• Nubank applied for a national bank charter in the U.S. in September, as it seeks to expand beyond Latin America.

• The digital lender still needs required approvals from the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC), it said.

• The banking charter would allow Nubank to offer deposit accounts, credit cards, lending and digital asset custody to U.S. customers, the lender said.

• Nubank said it is now in the "bank organization phase," working to meet other OCC conditions, while it awaits the additional approvals.

• "During this phase, the company will focus on fully capitalizing the institution within 12 months and opening the bank within 18 months," it said.