Nubank NU is the largest digital bank in Latin America, and in Colombia it has grown from a newcomer to a household name in just a few years. If you are a Colombian investor wondering whether you can own a piece of it - and how - the short answer is yes, but with an important catch: Nubank does not trade in Bogota. Its shares are listed in the United States, so buying them means buying a US-listed stock from Colombia. This guide explains what you are actually buying, how to do it from Colombia, the taxes and currency risks involved, and the trade-offs of holding a company whose customers are your own neighbours.
What exactly is Nubank, and where does its stock trade?
Nubank is a digital bank - it operates entirely through an app, with no physical branches. It started in Brazil and has expanded across the region, including Colombia, where it now serves millions of customers with credit cards, savings accounts, and loans. The company you would invest in is Nu Holdings Ltd., the parent that owns the Nubank operations across Latin America.
Here is the key detail for a Colombian investor: Nu Holdings is listed on the New York Stock Exchange (NYSE) under the ticker NU. It is not listed on the Colombian stock exchange (BVC). That means there is no way to buy Nubank shares in Colombian pesos through a purely local listing - you are buying a US-listed stock, priced in US dollars, wherever you buy it from.
Why does Colombia's biggest fintech list in New York?
It is a fair question - and the answer says a lot about how Latin American growth companies raise money. Nubank chose to list in the US because that is where it could reach the deepest pool of investors and the largest technology-focused funds. A US listing gives a fast-growing company access to more capital, greater visibility, and a valuation benchmark against global tech peers rather than only local banks. Several of the region's most prominent companies, including MercadoLibre, have taken the same route for the same reasons.
For you as an investor, the practical consequence is simple: to own Nubank you need a way to access the US market from Colombia. That is easier than it used to be, but it comes with rules and costs worth understanding before you commit a single peso.
How to buy Nubank stock from Colombia
There are two common routes for a Colombian investor to buy a US-listed stock like Nubank. The first is through a local brokerage (comisionista de bolsa) that offers access to international markets - several Colombian firms let you buy US stocks, converting your pesos to dollars behind the scenes. The second is through an international online broker that accepts Colombian residents, where you fund the account in dollars and trade US stocks directly.
Whichever route you choose, the steps are broadly the same: open and verify the account, move money in (converting Colombian pesos to US dollars), and place an order for NU shares. When you place that order, you will typically choose between a market order (buy at the current price) and a limit order (buy only at a price you set). For a volatile stock, a limit order gives you more control over what you pay.
Before opening any account, confirm the broker is properly regulated and check its full fee schedule: currency-conversion spreads, per-trade commissions, and any withdrawal or custody fees. These costs vary widely and can quietly eat into the returns of a small, first-time investment.
The costs a Colombian investor cannot ignore: currency and taxes
Because Nubank trades in dollars, your return has two moving parts: how the stock performs, and how the Colombian peso moves against the US dollar. If NU rises 10% in dollars but the peso strengthens against the dollar over the same period, your peso return is smaller than 10%. If the peso weakens, your peso return is larger. This currency risk works in both directions and is a permanent feature of holding any foreign-listed stock from Colombia.
Taxes are the second consideration. Capital gains and any dividends from a foreign stock are generally reportable to Colombia's tax authority, the DIAN, as part of your income. Nubank currently reinvests its profits rather than paying a regular dividend, so for now the main tax question for most holders is on capital gains when you sell. Tax rules are personal and change over time, so treat this as general education and confirm your own situation with a qualified tax adviser or the DIAN directly.
The catch nobody mentions: owning a stock built on your neighbours
There is a subtle risk in buying Nubank as a Colombian investor that has nothing to do with the company itself. If you already bank with Nubank, earn your salary in pesos, and live in the Colombian economy, then buying a large position in a company whose growth depends on that same economy concentrates your exposure. When the Colombian consumer struggles, both your income and your investment can feel it at the same time.
This is why diversification matters. Owning Nubank can make sense as one holding among many, but leaning heavily on a single stock - especially one tied closely to your own economic reality - raises your risk. A broadly diversified fund alongside any single-stock bet is the historically more resilient approach; no single stock is a substitute for spreading your risk.
So, should you buy Nubank?
That is a decision only you can make, and it depends on your goals, your timeline, and how much risk you can stomach. Nubank is a fast-growing company in a region where digital banking is still expanding, and in 2024 it committed roughly 130 million US dollars to deepen its push into Colombia - a sign of how seriously it takes the market. But it is also a single stock, priced in dollars, subject to currency swings and the ups and downs of Latin American consumer credit. Understand what you are buying, size the position sensibly, and treat it as one part of a diversified plan rather than a shortcut.
