US EditionRevolut 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.
24 Articles
24 Articles
Revolut Enters Mexico With 15% Yield, Forcing A Rethink On Fees And Rates
Key Points Revolut launched in Mexico with a headline 15% savings rate, capped at 25,000 pesos ($1,389). The firm says it has put more than $100 million into the country and targets two million customers by end-2026. The move raises pressure on rivals like Nubank and Mercado Pago, and on big banks that still dominate […]
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