Revolut launches a fully fledged bank in Mexico, stepping up its push into emerging markets

UK fintech Revolut has begun full-scale banking operations in Mexico, moving to establish its first bank outside Europe. The move is seen as part of an effort to accelerate its emerging-market expansion strategy, using Mexico as a foothold.

According to BeInCrypto on the 27th (local time), Revolut has completed its pilot phase in Mexico and launched operations under a full banking license. This marks Revolut’s first licensed bank established outside Europe. The company invested more than $100 million for its Mexico entry, an amount equivalent to twice the minimum capital requirement under local regulations.

Revolut chose Mexico—home to about 130 million people—as a strategic test market. The company said it saw an opportunity in the widespread perception that traditional banking is costly and procedures are complex, concluding that demand is strong for an app-based digital bank offering lower fees.

The process of obtaining the Mexican banking license was also unusual. Revolut became the first standalone digital bank to win approval by applying directly to regulators without acquiring or partnering with a local financial institution. As of launch, its capital adequacy ratio stood at 447.2%, far above regulatory requirements.

Credit rating agencies also offered positive assessments. HR Ratings assigned a long-term credit rating of HR AAA, while S&P Global gave it an 'mxA+' rating with a stable outlook.

Revolut highlighted a product lineup aimed at easing pain points for Mexican consumers. It offers automatic interest on current accounts, with high rates applying up to 25,000 Mexican pesos without the need to move funds into a separate savings product. Transfers between Revolut users are processed instantly and free of charge, and international remittance fees are lower than those of traditional banks. The app allows users to hold more than 30 currencies and exchange at competitive rates.

It also introduced premium offerings. Subscribers to the Metal plan receive a customized card and access to Mexico City airport lounges. The company is also preparing to launch Revolut Kids & Teens for those aged 6 to 17.

Revolut CEO Nik Storonsky said, "Mexico is a blueprint for future emerging-market expansion," adding, "This bank launch will serve as a benchmark model for expanding Revolut’s global banking infrastructure."

Revolut’s expansion is underpinned by solid performance. The company posted revenue of $3.8 billion in 2024, marking its fourth consecutive year of profitability. In 2025, it secured a valuation of $75 billion through a new fundraising round.