Mexico’s FinTech Surge Continues: Revolut Joins the Wave
Hey Digital Bank Fanatic!
Remember when I told you Mexico’s FinTech scene is on fire? 🔥
Well, here’s more proof: Revolut just became an official bank in Mexico, securing full approval from CNBV (National Banking and Securities Commission) to operate as a multiple banking institution. Big step for Revolut, giant leap for digital banking in Latin America.
According to Juan Miguel Guerra, CEO of Revolut’s local banking entity, the company is the first independent digital bank to successfully complete the full licensing process from scratch in Mexico.
Revolut will now roll out its products to Mexican customers who have already joined a waiting list. This approval from Mexico’s CNBV allows them to offer a full suite of financial products under local regulation.
“We have tailored our world-class banking app to serve customers across Mexico and this is just the beginning. We will continue to innovate and launch more products to meet all our customers' needs in one place,” says Guerra.
This new step underscores Revolut’s broader strategy to expand across the Americas, following its launches in the United States and Brazil. The company also stated it is seeking a full banking license in Colombia and is in the process of acquiring a bank in Argentina.
This move further fuels the already booming FinTech landscape in Mexico.
And if you’re in Mexico City, here’s a quick heads-up: our next FinTech Running Club run is happening on November 8th.
Lace up and join the best FinTech networking event in town 🏃♂️🇲🇽
Cheers,
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NEWS
🇲🇽 Revolut gets green light to launch bank in Mexico. The FinTech said it received final authorisation from Mexico’s National Banking and Securities Commission, with approval from the Bank of Mexico, to begin operations as a “multiple banking institution” in the country. The neobank is now preparing to launch its product to people in Mexico who have signed up on the waiting list.
🇫🇷 Can Revolut continue to grow without a French banking licence? Revolut’s Western Europe CEO, Béatrice Cossa-Dumurgier, said the neobank’s growth doesn’t depend on a French banking licence, though it would help localize services and build trust. Keep reading
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