Revolut Starts Full Banking Services in Mexico, Eyes Peru

Revolut has formally launched full banking operations in Mexico, marking the end of its beta phase and opening access to customers nationwide. From now on, users in Mexico can join Revolut Bank by downloading the app and completing the onboarding process. The move represents the fintech company’s first fully licensed bank established outside Europe and expands its footprint to 40 countries.

The Mexican entity, Revolut Bank S.A. Institución de Banca Múltiple, secured its licence through a direct application, making it the first independent digital bank to do so in the country. Revolut capitalised the bank with more than USD 100 million, exceeding regulatory requirements and resulting in a Capital Adequacy Ratio of 447.2% at launch. The company stated that this level of capitalisation supports long-term stability and aligns with its global financial approach.

Ratings Underline Launch Stability

Revolut Bank S.A. has already received initial credit ratings that point to a strong starting position. HR Ratings assigned long-term ratings of HR AAA and short-term ratings of HR+1, both with a Stable Outlook. S&P National Ratings issued long-term issuer ratings of ‘mxA+’ and short-term ratings of ‘mxA-1’, also with a Stable Outlook. The assessments reference capital strength, liquidity levels, and backing from the wider Revolut Group.

Nik Storonsky, Revolut’s Co-founder and CEO, said: “Revolut's technology will empower millions across Mexico with better financial tools. This launch is a blueprint for expansion into other high-growth markets, and we are confident in replicating this success on our journey to reach over 100 million daily active customers in 100 countries.”

Juan Guerra, CEO of Revolut Bank, added: “We have arrived to revolutionize banking in Mexico. Finally, there is an elegant digital alternative to traditional institutions, offering everything from high-yield savings to seamless international transfers and tools for the whole family. Revolut Bank S.A. has launched to help people in Mexico get more out of their money, and this is only the beginning.”

Product Rollout And Regional Expansion

The Mexican launch follows an early access programme with thousands of users and includes savings accounts, international spending across more than 30 currencies, bill payments, and joint accounts. Family accounts for children aged six to 17 are scheduled to launch soon, alongside subscription plans, gift cards, and a rewards programme.

Revolut also confirmed plans to enter Peru after applying for a full banking licence. Julien Labrot has been appointed CEO of Revolut Peru. Carlos Urrutia, Head of Expansion at Revolut, said: “Revolut's entry into Peru is built on our belief that digital financial services should be empowering, accessible, and secure for everyone.”

Julien Labrot stated: “Our focus is on bringing the best of Revolut to the Peruvian market while building a secure and compliant platform that genuinely serves the needs of our future customers.”

Revolut reported revenues of USD 3.8 billion in 2024 and holds a valuation of USD 75 billion following a 2025 funding round.

Source: 

“Revolut Launches Full Banking Operations in Mexico, Accelerating Global Expansion”, revolut.com, January 27, 2026