Nubank to Establish Global Headquarters at Abu Dhabi’s ADGM
Nubank, Latin America’s largest digital bank and one of the world’s biggest neobanks by customer count, is set to establish a new global headquarters at Abu Dhabi Global Market (ADGM), expanding its international presence from the Middle East into Asia and beyond.
The decision follows a meeting between Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Nubank founder and CEO David Vélez. According to FWDstart, the ADGM base will be developed in collaboration with Abu Dhabi’s investment, economic and financial institutions, including digital banking platform Wio Bank.
The discussions reportedly centered on opportunities to expand financial services in Abu Dhabi and the wider UAE, with a strategic focus on access to markets across MENA and Asia. The move underscores Abu Dhabi’s continued ambition to attract major international fintech and banking firms to its financial free zone.
Nubank’s Global Expansion Strategy
Founded in São Paulo in 2013 by Vélez, Cristina Junqueira and Edward Wible, Nubank has grown into a major global digital banking player. The company now serves more than 100 million users across Brazil, Mexico, Colombia, Uruguay, the United States and Germany.
The neobank currently manages more than US$78 billion in assets and has a market capitalisation of around US$70 billion. In its fourth quarter of 2025, Nubank reported revenue of US$4.9 billion and net income of US$895 million, highlighting the scale of the business as it continues to expand beyond its core Latin American markets.
The Abu Dhabi headquarters announcement comes amid a broader international growth phase for the company. In January 2026, Nubank received conditional approval for a US national bank charter, a development that would allow it to offer deposit accounts, lending, credit cards and digital asset custody services in the United States.
By adding Abu Dhabi to its global footprint, Nubank appears to be strengthening its position as a cross-border digital banking group with ambitions well beyond Latin America. The new base at ADGM could support further partnerships and market entry efforts across the Middle East and Asia.
Industry Analysis
Nubank’s decision to set up a global headquarters at ADGM reflects the growing appeal of Abu Dhabi as a destination for international financial institutions and digital banking firms. For fintech companies looking to scale across regions, ADGM offers a strategic gateway to both MENA and Asian markets.
The move may also signal increased competition among global financial hubs seeking to attract high-growth neobanks and fintechs. For the UAE, securing a company of Nubank’s size and profile reinforces the country’s role as a regional center for digital finance and international expansion.
For Nubank, the Abu Dhabi base could provide a platform to deepen institutional ties in the region while supporting future growth opportunities in markets that remain underpenetrated by digital banking providers.
