Nubank linked to potential Brubank acquisition in Argentina (iProUP via André Santos). Inter and BTG Pactual are also reportedly exploring a deal. Brubank has a full BCRA licence and ~5m customers. A deal would give an immediate local licence, customer base and infrastructure — faster than organic entry. Inter has denied talks; nothing confirmed. Nubank pulled back from Argentina in 2019 after conditions “changed completely” (David Vélez). It scaled in Brazil, Mexico and Colombia, launched in the US, and already serves Argentina via Nu Global. Vélez has recently called the market “more attractive every day” amid deregulation, but still prefers to build from scratch. An acquisition would mean integration challenges (customers, tech, culture). Revolut took a similar (much smaller) licence-buy route, securing BCRA approval in Sept 2026 for Banco Cetelem (launch targeted 2027). Mercado Pago is advancing an organic licence (expected by end-2026); Cocos already has one via Banco Voii. Reports are unconfirmed and follow earlier 2025 rumours that went nowhere. But it's clear that Argentina is back on Nubank’s map.