MEXICO CITY — British fintech giant Revolut has officially launched full banking operations in Mexico, marking the company’s first licensed bank outside Europe and a major milestone in its global expansion strategy.
The move positions Revolut as the first independent digital bank to obtain a Mexican banking license through a direct regulatory application. The company has committed more than $100 million in capital to support its local operations, significantly exceeding minimum regulatory requirements.
Targeting Latin America’s Underbanked Market
Mexico, one of Latin America’s largest economies, presents a major opportunity for digital banking platforms as millions of consumers remain underserved by traditional financial institutions. Competition in the region’s banking sector remains relatively limited, making it an attractive destination for global fintech firms seeking high-growth markets.
Revolut’s entry reflects a broader industry trend, with international fintech companies increasingly focusing on Latin America as demand for mobile-first financial services accelerates.
Expanded Digital Banking Services
With its new license, Revolut can now offer Mexican customers a full suite of banking services. These include high-yield savings accounts, multi-currency wallets supporting more than 30 currencies, and low-cost international money transfers.
The company aims to deliver a seamless digital banking experience tailored to both local users and international customers who frequently transact across borders.
Blueprint for Global Growth
Revolut, currently Europe’s most valuable fintech company, has stated that the Mexico launch will serve as a blueprint for future market entries. The firm is also pursuing a full banking license in Peru and plans to introduce a payments platform in India.
With more than 70 million customers worldwide, Revolut has set an ambitious target of reaching over 100 million daily active users across 100 countries, signaling its intention to become a truly global digital banking platform.
