Inter receives Federal Reserve approval to open U.S. banking branch

The Florida Office of Financial Regulation and the Federal Reserve approved Inter to establish a state‑licensed international banking branch in Miami, expanding its cross‑border services. The article notes Inter serves more than 41 million customers and that the branch will be a digital‑first banking hub.

Inter has received authorization from the Florida Office of Financial Regulation and the Federal Reserve to establish a state‑licensed international banking branch in Miami. The approval permits the company to expand its cross‑border capabilities and offer additional services for individuals and businesses from a U.S. base. The company described the new operation as a digital‑first banking hub focused on speed, security and transparency. The article mentions Inter is listed on NASDAQ and serves more than 41 million customers. Key details: - Regulators involved: Florida Office of Financial Regulation and the Federal Reserve. - Location: a state‑licensed international banking branch based in Miami, Florida. - Purpose: to expand cross‑border capabilities and provide a digital‑first banking hub for clients. - Background: Banco Inter was Brazil's first digital bank and is cited as a leading provider of outbound remittances, according to the Central Bank of Brazil. - Market footprint: the article states Inter serves over 41 million customers and accounts for nearly 10% of PIX peer‑to‑peer payments in Brazil. Summary: The approval authorizes Inter to operate a Florida‑based, state‑licensed international banking branch and positions the company among international firms permitted to run U.S. branches. This change supports the firm's stated goal of expanding digital cross‑border services. Undetermined at this time.