Finance
Revolut launches full banking operations in Mexico in first expansion outside Europe
Published by Global Banking and Finance Review
Posted on January 27, 2026
2 min readLast updated: January 27, 2026
Home > Finance > Revolut launches full banking operations in Mexico in first expansion outside Europe
Quick Summary
Revolut launches its first non-European bank in Mexico, targeting underbanked markets with plans for further expansion in Latin America.
Revolut Expands Banking Services to Mexico, Its First Non-European Market
Revolut's Expansion into Mexico
Jan 27 (Reuters) - Britain's Revolut said on Tuesday that it has officially launched full banking operations in Mexico, marking its first bank established outside of Europe as the fintech accelerates its expansion into high-growth markets.
Overview of Banking Operations
Revolut Bank S.A. IBM has become the first independent digital bank to secure a Mexican banking license through a direct application and has capitalized its operations with over $100 million — more than double the regulatory minimum.
Services Offered to Customers
The expansion into Mexico, one of Latin America's largest economies, comes as global fintechs target the underbanked population in the region, where traditional competition remains relatively low.
Future Plans in Latin America
Revolut, Europe's most valuable financial technology company, recently said it was pursuing a full banking license in Peru and also had plans to roll out a payments platform in India.
The Mexico license would allow Revolut to offer customers a suite of digital banking services including high-yield savings accounts, hold and exchange over 30 currencies, and international money transfers.
The London-based firm, which has over 70 million customers globally, said the launch provides a blueprint for future expansion as it aims to reach over 100 million daily active customers in 100 countries.
(Reporting by Yamini Kalia in Bengaluru; Editing by Alan Barona)
Key Takeaways
- •Revolut launches its first bank outside Europe in Mexico.
- •The fintech secured a Mexican banking license with over $100 million capital.
- •Revolut aims to expand into other Latin American markets like Peru.
- •The launch targets the underbanked population in Mexico.
- •Revolut plans to reach 100 million daily active customers globally.
Frequently Asked Questions about Revolut launches full banking operations in Mexico in first expansion outside Europe
1What is a banking license?
A banking license is a legal authorization granted by a regulatory authority that allows a financial institution to operate as a bank and provide banking services to customers.
2What are high-yield savings accounts?
High-yield savings accounts are savings accounts that offer a higher interest rate compared to traditional savings accounts, allowing customers to earn more on their deposits.
3What is international money transfer?
International money transfer is the process of sending money from one country to another, typically involving currency conversion and various fees.
4What is a fintech company?
A fintech company is a business that uses technology to provide financial services, such as banking, payments, and investment management, often with a focus on innovation and customer experience.
