Revolut Opens Its First Bank Outside Europe, Starting in Mexico
Revolut has made a decisive transfer into Mexico. On Tuesday (27), the British fintech introduced the launch of full banking operations in the nation, ending its testing part.
This marks the primary time Revolut has opened a licensed financial institution outdoors Europe.
Revolut Bets on Mexico’s Costly, Fragmented Banking System
Mexico was a deliberate selection. With a inhabitants of round 130 million and a standard banking system extensively considered as costly and bureaucratic, the nation presents a robust alternative for a completely digital financial institution.
Revolut sees demand for app-based banking with decrease charges and simplified entry.
To safe its Mexican banking license, Revolut took an uncommon route. It turned the primary impartial digital financial institution to realize approval by way of a direct utility to regulators, with out buying an area establishment or forming a partnership.
The firm capitalized the operation with greater than $100 million, twice the regulatory minimal. At launch, its capital adequacy ratio stood at 447.2%, far above necessities.
Credit ranking businesses responded favorably. HR Ratings assigned a long-term HR AAA ranking, whereas S&P Global issued an ‘mxA+’ ranking with a steady outlook.
High Capital Buffer and Product Design Target Consumer Trust
Revolut’s product providing targets key client ache factors. Its checking account offers automated curiosity on balances, with increased returns utilized to the primary 25,000 Mexican pesos. Users don’t want to maneuver funds right into a separate financial savings product.
Transfers between Revolut customers are instantaneous and free. International transfers to exterior financial institution accounts come at decrease prices. The app helps balances in greater than 30 currencies, with forex change at aggressive charges.
The fintech can also be focusing on particular segments. Its Metal plan features a personalized card and entry to airport lounges in Mexico City. Revolut Kids & Teens, geared toward customers aged 6 to 17, is ready to launch quickly.
CEO and co-founder Nik Storonsky described Mexico as a blueprint for future enlargement into rising markets. He mentioned the launch would function a mannequin for scaling Revolut’s banking infrastructure globally.
The enlargement is backed by sturdy financials. Revolut reported $3.8 billion in income in 2024, its fourth straight worthwhile 12 months.
In 2025, the corporate reached a $75 billion valuation after a brand new funding spherical.
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