Revolut has made a significant move to Mexico. On Tuesday (the 27th), the British fintech company announced that it would launch full banking operations in the country, thus concluding its testing phase.
Now for the first time, Revolut is opening a licensed bank outside of Europe.
Revolut believes in Mexico's expensive and fragmented banking system
Mexico was chosen deliberately. The country has about 130 million inhabitants, and the traditional banking system is generally considered expensive and bureaucratic. This provides a strong opportunity for digital banking.
Revolut sees demand for app-based banking services with lower fees and easier access to services.
To obtain a banking license in Mexico, Revolut took an exceptional route. The company is the first independent digital bank to receive approval directly from regulators without acquiring or collaborating with a local institution.
The company capitalized its operations with over 100 million dollars, which is twice the minimum regulatory requirement. At the start, its capital adequacy ratio was 447.2%, which is clearly above the requirements.
Credit rating agencies react positively. HR Ratings assigned a long-term HR AAA rating, and S&P Global granted a 'mxA+' rating with a stable outlook.
A large capital buffer and product design increase consumer confidence
Revolut's product offering targets consumers' core challenges. Its usage account earns automatic interest on the balance, and the highest yield applies to the first 25,000 Mexican pesos. Users do not need to transfer funds to a separate savings product.
Money transfers between Revolut users are instant and free. International transfers to other banks cost less. The app supports balance management in over 30 currencies, and currency exchange occurs at competitive rates.
The fintech company also targets specific customer segments. The Metal plan includes a customized payment card as well as access to Mexico City airport lounges. Revolut Kids & Teens, for users aged 6-17, will be launched soon.
CEO and co-founder Nik Storonsky described Mexico as a model market for future growth opportunities. According to him, the launch serves as an example of Revolut's expansion of banking infrastructure globally.
Growth is supported by a strong financial situation. Revolut reported 3.8 billion dollars in revenue in 2024, marking its fourth consecutive profitable year.
In 2025, the company reached a valuation of 75 billion dollars following a new funding round.