Inter&Co reports Federal Reserve approval to establish U.S. banking branch

Inter announced it has received regulatory approval from the Florida Office of Financial Regulation and the Federal Reserve to establish a state-licensed international banking branch in Florida. “The approval authorizes Inter to establish a Florida branch based in Miami, expanding the company’s cross-border capabilities and broadening its range of financial services for individuals and businesses… With this authorization, Banco Inter joins a select group of international institutions permitted to operate a U.S. banking branch. The new operation will serve as a digital-first banking hub, connecting clients across borders with enhanced speed, security, and transparency,” the company stated. “This milestone strengthens our position as a global platform and enables us to deliver even more value to our clients across borders. The U.S. branch allows us to scale our offering, deliver greater value to our clients, and strengthen Inter’s position in the international financial system,” said Joao Vitor Menin, Global CEO of Inter.