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Revolut launches full banking operations in Mexico in first expansion outside Europe
- In October last year, Revolut Bank S.A. began operating in Mexico after receiving a CNBV banking license, the company said.
- Because Latin America has a large underbanked population, Revolut targeted Mexico, one of Latin America's largest economies, where traditional competition remains relatively low.
- Strong capitalization backs the launch with bank capital: $100 million and initial capital adequacy ratio 447.2%, enabling high-yield savings accounts, ability to hold and exchange over 30 currencies, and international money transfers.
- The Mexico launch expands Revolut's global footprint into additional countries, marking its first banking license outside Europe and making it the first independent digital bank to secure a Mexican license via direct application.
- The company frames the Mexico launch as a blueprint for hitting its global daily-active user target, recently pursuing plans in Peru and India while aiming for over 100 million daily active customers across 100 countries.
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The revolution, the global fintech with over 70 million customers, announced that it has started full banking operations in Mexico. The revolution Bank SA IBM is the first bank of the Revolution launched outside the European continent.
With the promise to lower the cost of remittances and open the door to more than 20 million people to the financial system, Revult, the British-born neobank, started yesterday formal operations in Mexico. According to its director general, Juan Guerra, sees a lot of potential in Mexico. “Let’s go like tacos: everything.”
·Mexico
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Total News Sources18
Leaning Left3Leaning Right0Center3Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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