Revolut has launched full banking operations in Mexico, becoming the first market outside Europe where the company operates as a fully licensed bank. The new entity, Revolut Bank S.A. Institución de Banca Múltiple, allows Mexican customers to open accounts and use regulated banking services directly in the Revolut app.

This is a different kind of market entry for Revolut. In many countries, it operates under e-money or payments licences. In Mexico, it went through the full local banking authorisation process and built a bank from the ground up.

What This Banking Licence Really Means

Revolut received approval from Mexico’s National Banking and Securities Commission (CNBV), with the backing of the central bank. That puts it in the same regulatory category as domestic banks.

It can now accept deposits, operate current accounts, and roll out a broader set of financial products over time. Customer funds are protected by Mexico’s deposit insurance scheme, which covers balances up to the local statutory limit.

The Mexican bank has been capitalised with more than USD 100 million, well above the regulatory minimum. That level of investment signals long-term intent. This is not a lightweight experiment or a market test. It is infrastructure.

For a global fintech, this matters. A banking licence changes the relationship with both regulators and customers. You are no longer “just an app.” You are part of the financial system.

What Customers Can Do Now

From day one, Mexican users can open local accounts in the app, hold and exchange multiple currencies, and send international transfers. These are familiar Revolut features, now delivered through a fully regulated local bank.

Over time, additional products such as savings and other banking services can be layered on. The key shift is not a single feature. It is the foundation. Customers are served by a bank, not a fintech wrapper around other institutions.

That distinction carries weight in markets where trust in financial providers is still uneven.

A Strategic Step in Global Growth

Mexico is a large market with a meaningful underbanked population and strong cross-border money flows. It is also a gateway to Latin America.

For Revolut, this launch acts as a blueprint. Building a regulated bank in a high-growth market shows how the company plans to expand beyond Europe in a durable way. It is slower than a payments rollout, but structurally stronger.

Revolut’s public ambition is to reach 100 million customers across 100 countries. That scale requires more than clever UX. It requires regulatory depth, capital, and patience.

Mexico is where that strategy becomes concrete.

Key takeaways for fintech startups

Before you chase global scale, it helps to understand what this kind of move really involves:

• A full banking licence changes your product scope, risk profile, and credibility.
  
  
• Regulators look for long-term commitment, not just technical readiness.
  
  
• Over-capitalising a new entity builds trust with both authorities and customers.
  
  
• Large, partially underserved markets reward infrastructure, not shortcuts.
  
  
• One well-executed expansion can become a repeatable playbook.

If you are thinking about international growth, regulation, or structural scale, we help founders design strategies that survive contact with reality. Get in touch.