Neobank Nubank has been approved to acquire Banco Porto Real de Investimentos S/A, formally obtaining a banking license in Brazil. The acquisition enables the company to retain its existing name, which previously included the word "bank" despite lacking a full banking license. Brazilian regulators had required Nubank to drop the "bank" designation from its name due to its unlicensed status. With the new license secured through the Banco Porto Real acquisition, the cryptocurrency-focused fintech can now operate as a licensed bank and maintain its brand identity.