Revolut Bank Secures License for Mexico Operations as Digital Finance Expand

This approval aligns Revolut México with other digital banking giants such as Santander’s OpenBank, Banorte’s Bineo, and BanRegio’s Hey Banco, which have been greenlit over the past two years.
Revolut Bank Secures License For Mexico Operations As Digital Finance Expand
Revolut Bank Secures License For Mexico Operations As Digital Finance Expand

The Comisión Nacional Bancaria y de Valores (CNBV) has approved Revolut Bank, also known as Revolut México, to operate as a subsidiary, marking a significant step in the expansion of digital financial services in Mexico.

Revolut Bank is distinguished as a digital platform that simplifies money management for individuals and businesses. With over 35 million customers across 38 countries, it boasts significant achievements, including being the most downloaded finance app in 9 countries in 2023 and ranking among the top three financial apps in over 15 countries in Europe.

According to the CNBV’s mandate, Revolut México is required to start with a capital of 1,441.2 million pesos, which will increase to 1,811.7 million pesos before commencing operations. This financial requirement is comparable to that of other recently approved digital neobanks in Mexico.

This move by the CNBV not only reinforces Mexico’s commitment to financial innovation but also positions Revolut México advantageously for entering the market with a strong and competitive value proposition.

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