Last Updated on October 6, 2026 by TMB
Brazilian digital banking group Nu Holdings has officially debunked media reports claiming it is in talks to acquire the UK-based digital bank Monzo. On Wednesday, the company said recent media reports of such a transaction with Monzo are false.
In a statement, Nu Holdings confirmed it regularly considers opportunities that could support its long-term goals and growth objectives. These may include partnerships, acquisitions, and investments. Nonetheless, Nu Holdings is not actively considering any such opportunities with Monzo.
“As a matter of general practice, the Company does not comment on specific opportunities. However, given the extent of recent media speculation, the Company is providing this clarification: while we have a great deal of respect for Monzo, the Company is not pursuing a transaction with Monzo.”
Nu is Expanding Regardless
The statement, however, buttresses the company’s continued interest in global expansion. It says Nu is currently pushing what it describes as “strategic priorities,” including solidifying its position in Brazil and scaling in Colombia and Mexico. It is also pushing through with global expansion via Nu Global.
Nu also says it maintains a capital allocation framework that informs investment decisions. These decisions are based on expected returns, cost of capital, potential value creation per share, and the financial and management resources required.
The company recently launched Nu in the US, along with a suite of products that offer American customers several features. In an announcement, it supported its US launch by highlighting retail banking revenue growth in the US and BCG’s projection of the US sector to $1.4 trillion by 2029. Nu also noted that the United States is the world’s largest financial services market.
Nu Global and Forbes Recognition
On Nu Global, the company said it is also looking to solve universal problems beyond any single market. According to CEO David Vélez, more people now live borderless lives and use multiple apps to move money between currencies, facing complex exchange-rate problems, delayed transactions, and exorbitant fees.
Among several perks, Nu advertises competitive exchange rates and no markups. The statement cites World Bank data showing that 300 million people live and work across borders annually. These people moved about $800 billion internationally in 2025, but lost 6% of the money to fees and rate margins. In addition to access to fiat currencies, Nu Global also provides customers with access to several cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).
In a previous release, Nu announced that Nubank was recognized at the maiden edition of Forbes’ World’s Top Performing Banks 2026 ranking curated in partnership with leading statistics provider Statista Inc. The chosen banks were evaluated using four major metrics, including profitability, asset quality and efficiency, capital and funding resilience, and growth and earnings quality. The 2026 list had 500 banks in 88 countries.
