Brazilian Digital Bank Nubank Opens HQ at Abu Dhabi Global Market

Nubank, a Brazil-based digital bank, will establish a new global headquarters at Abu Dhabi Global Market following a meeting between Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and David Vélez, the bank’s founder and CEO.

The move will be developed in collaboration with Abu Dhabi’s investment, economic and financial institutions, including Wio Bank, as part of efforts to expand financial services in the UAE and use the country as a base to access markets across Asia and the Middle East and North Africa.

Founded in São Paulo in 2013 by Vélez alongside Cristina Junqueira and Edward Wible, Nubank has grown into Latin America’s largest digital bank and one of the largest globally by customer base.

The company serves more than 100 million users across multiple markets, including Brazil, Mexico, Colombia, Uruguay, the United States and Germany. It manages over $78 billion in assets and holds a market capitalisation of around $70 billion, reporting $4.9 billion in revenue and $895 million in net income in the fourth quarter of 2025.

The Abu Dhabi expansion aligns with Nubank’s broader international growth strategy. In January 2026, the company received conditional approval for a US national bank charter, allowing it to expand services including deposit accounts, lending, credit cards and digital asset custody in the United States.