Published by Global Banking & Finance Review®
Posted on January 27, 2026
2 min readLast updated: January 27, 2026
Add as preferred source on GoogleRevolut launches its first non-European bank in Mexico, targeting underbanked markets with plans for further expansion in Latin America.
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.
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.
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.
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)
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.
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.
International money transfer is the process of sending money from one country to another, typically involving currency conversion and various fees.
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.
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