Bunq expands Americas push with Mexico filing

By Parth Prabhudesai

Dutch neobank Bunq has applied for a banking licence in Mexico, expanding its international growth ambitions as the digital lender looks to strengthen its presence across the Americas.

The move would allow Bunq to offer full-service banking services in Mexico, including multi-currency accounts and protected deposits, subject to approval from Mexican regulators including the National Banking and Securities Commission (CNBV), Banco de México and the finance ministry.

The application comes shortly after Bunq refiled for a US national banking charter earlier this year, adding Mexico as another strategic market outside Europe.

Mexico has become an increasingly attractive destination for digital banks due to strong growth in digital financial services, rising remittance flows and relatively low banking penetration compared with developed economies. Remittance inflows into the country reached more than US$63 billion in 2023.

Ali Niknam, Founder and Chief Executive Officer of Bunq, said, “Bunq is designed for people who live, work, and travel across borders, and as a vital connecting point between the Americas, Mexico is a natural home for us. Our users need a bank that is safe, secure and easy to use, wherever they are.”

Bunq will enter a competitive digital banking market that already includes players such as Revolut and Nubank. Revolut received operational approval to launch as a digital bank in Mexico in 2025, while Nubank is progressing through the final stages of its banking transition in the country.

The Dutch FinTech has been accelerating its global expansion strategy in recent years. Alongside its US banking efforts, the company secured a US broker-dealer licence in 2025, expanded crypto-related services across Europe and reported reaching 20 million users globally.

The company has not disclosed a timeline for launching banking operations in Mexico or details regarding its planned investment in the market.