Nu Holdings (NU) is considering moving its legal domicile to the UK as part of its global expansion strategy, which may include entering the US market, Reuters reported Monday, citing Chief Executive David Velez.

"We are actively thinking what are some of the jurisdictions that make sense for us to consider, as we think about the next 10 years of global expansion," Velez was quoted as saying by Reuters on the sidelines of the World Economic Forum's annual meeting in Davos.

"We are considering the UK," Velez reportedly said, adding that such could serve as a legal presence from which to manage operations and recruit talent.

Velez also said the US would be an attractive market to enter under President Donald Trump's administration, which is likely to embrace digital asset regulations, according to the report.

While Europe is a significant market, Velez said that Nubank is not prioritizing a European launch due to regulatory challenges and competition, the report added.

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