Inter (NASDAQ: INTR) announced the opening of its US branch in Miami, Florida, marking an expansion of the Brazilian financial platform's regulated presence in the United States.

The Board of Governors of the Federal Reserve and the Florida Office of Financial Regulation authorized the Inter US Branch, which operates as a state-licensed branch of Banco Inter S.A. The company joins a limited group of foreign banking organizations authorized to maintain a banking presence in the United States.

The Miami branch will serve as a hub for Inter's international operations, supporting clients with cross-border financial needs. The company stated the branch will enhance its ability to deliver banking products to clients with US financial needs, optimize its funding structure and support international clients with US-related financial activities.

"This is an important milestone in Inter's international expansion," said Ray Chalub, General Manager of the Inter US Branch. "The establishment of our U.S. branch strengthens our ability to serve clients with increasingly global financial needs, within a regulated framework."

João Vitor Menin, Global CEO of Inter, stated that the US branch positions the company to better support clients internationally and advance its long-term growth strategy.

Inter operates as a global financial platform serving more than 44 million customers worldwide, with over $1.8 billion in annual net revenue and operations across multiple markets. The company provides banking, credit, investments, payments and lifestyle solutions through its digital platform.