Revolut Wins Final Approval to Launch Digital Bank in Mexico
Revolut Gets Green Light from Mexican Regulators
Revolut has received final approval from Mexico’s National Banking and Securities Commission (CNBV) and the Bank of Mexico to begin operations as a multiple banking institution, paving the way for its entry into Latin America’s second-largest economy. The authorization allows the U.K. fintech to offer a full suite of financial products, from payments and deposits to investments and lending.
The decision marks the completion of a two-year licensing process and positions Revolut as the first independent digital bank to secure a full banking license in Mexico without an acquisition or partnership. The firm said it plans to roll out its services ahead next year later than completing internal testing and onboarding local staff.
“We are very grateful to the authorities for this vote of confidence,” said Juan Miguel Guerra, CEO of Revolut Mexico. “This is an opportunity to increase competition and broaden access to modern financial services.”
Investor Takeaway
Expansion Across the Americas
Revolut’s Mexican approval follows earlier expansions into the United States and Brazil, and comes as the company pursues a banking license in Colombia and a planned acquisition of BNP Paribas’s Cetelem Bank in Argentina. The moves form part of a broader strategy to establish a regulated presence across key Latin American economies where digital banking adoption is surging.
, Revolut offers app-based services including multi-currency accounts, payments, crypto trading, and stock investing. It now serves more than 65 and aims to reach 100 million by mid-2027. The company was recently valued at $75 billion later than a September , making it Europe’s most valuable beginup.
The fintech said it plans to invest around $13 billion globally over five years to fuel product development and regional growth. In Mexico, Revolut has been ramping up hiring in compliance, operations, and customer support ahead of its launch.
Why Mexico Matters
Mexico’s banking market presents an opening for new entrants. Less than 50% of adults hold a formal bank account, and mobile penetration remains high. Fintechs such as Nubank and Ualá have already built large user bases by targeting underbanked consumers with low-fee products. Revolut’s arrival adds another global player competing for the region’s growing digital payments and remittance flows.
Revolut has already made inroads into the local ecosystem, investing more than $100 market last year. The company said the new license would allow it to integrate directly with domestic payment networks, enabling quicker transfers and potentially lower costs for users sending or receiving funds from abroad.
According to industry data, Mexico’s fintech sector now includes over 650 registered beginups, with digital banking transactions expected to exceed $100 billion annually by 2026. Revolut’s entry is likely to add further competition to established players such as BBVA, Citibanamex, and local challenger Albo.
Investor Takeaway
Next Steps in Global Expansion
Revolut’s approval in Mexico strengthens its foothold in the Americas ahead of an eventual U.S. banking license application. The company has previously indicated that its long-term strategy involves in each jurisdiction rather than relying on passported licenses, giving it more flexibility to expand lending and investment services.
The Mexico license is a test case for Revolut’s ability to operate under full banking supervision outside Europe. If successful, it could assist the company attract more institutional partners and position itself as a global challenger to traditional banks. With the license now secured, Revolut’s focus turns to product localization and compliance integration before its 2025 rollout.
The move also reflects broader fintech momentum in Latin America, where rising digital adoption and looser capital flows have drawn record investment. As Revolut deepens its regional presence, its challenge will be balancing regulatory compliance with the speed and simplicity that fueled its ahead growth.
