In a move that marks a milestone in the history of the global fintech industry, Revolut announced on Tuesday 27 January the official launch of its full banking operations in Mexico.
The decision ends the test phase and marks a historic first for the British company: for the first time, Revolut is opening a fully licensed bank outside of Europe.
A strategic choice based on numbers and needs
Mexico was not chosen by chance. With a population of around 130 million, the country represents fertile ground for financial innovation. The traditional Mexican banking system is often perceived by citizens as expensive, bureaucratic and fragmented. Revolut intends to fit into this scenario by offering an all-digital alternative, focused on low fees and simplified access to financial services.
We have made history as the first independent digital bank to obtain full regulatory approval in Mexico, reported the company on X.
An unprecedented regulatory path
To obtain its banking licence, Revolut opted for a bold and unusual strategy. It became the first independent digital bank to obtain approval through a direct application to local regulators, without resorting to the acquisition of existing institutions or the creation of partnerships with local banks.
Demonstrating the robustness of the operation, the company capitalised its Mexican subsidiary with more than $100 million, a figure that doubles the minimum required by regulators. At the time of launch, the capital adequacy ratio stood at 447.2%, far exceeding any prudential requirements.
This financial commitment convinced the rating agencies: HR Ratings assigned a long-term rating of HR AAA, while S&P Global issued a 'mxA+' rating with a stable outlook.
Products designed to build consumer trust
Revolut's offering in Mexico aims to solve the main problems of local users. Key features include:
- Automatic interest: The current account generates interest on the balance without the need to move money into separate savings products (with higher returns on the first 25,000 Mexican pesos).
- Free transfers: Money exchanges between Revolut users are instant and at no cost.
- Global connectivity: The app supports over 30 currencies with competitive exchange rates.
- Specific segments: The Metal plan (with a personalised card and access to airport lounges) is already available and Revolut Kids & Teens for the 6-17 year old range will be launched soon.
Mexico as global 'Blueprint'
The CEO and co-founder of Revolut, Nik Storonsky, described the launch in Mexico as a 'blueprint' for future expansion into emerging markets. The soundness of this move is supported by the group's financial results, which in 2024 recorded revenues of USD 3.8 billion, marking the fourth consecutive year in profit. In 2025, thanks to a new round of financing, the company's valuation reached a record $75 billion.
With this deal, Revolut is not only challenging Mexico's traditional banks, but also laying the groundwork for a digital transformation that could soon be replicated across South America.
