Revolut launches fully licensed digital bank in Mexico

UK-headquartered FinTech Revolut has officially launched full banking operations in Mexico, concluding its beta phase and marking the establishment of its first bank outside Europe.

Revolut Bank S.A., Institución de Banca Múltiple, extends the company’s footprint to 40 countries and positions Mexico as a strategic gateway for expansion into other high-growth markets. The launch follows a direct application for a Mexican banking licence, making Revolut the first independent digital bank to secure authorisation in the country through this route.

The bank has been capitalised with more than $100 million, over twice the regulatory minimum, resulting in a Capital Adequacy Ratio (CAR) of 447.2% at launch. The move signals a long-term commitment to the market and aligns with Revolut’s broader strategy of maintaining strong capital buffers as it scales internationally.

Initial credit assessments have reinforced the bank’s financial standing. HR Ratings assigned long-term ratings of HR AAA and short-term ratings of HR+1, both with a Stable Outlook. S&P Global Ratings’ national scale assigned long-term issuer ratings of ‘mxA+’ and short-term ratings of ‘mxA-1’, also with a Stable Outlook. The agencies cited strong capitalisation, liquidity levels and support from the broader Revolut Group.

At launch, the bank is offering a suite of digital services tailored to the Mexican market. These include yield-bearing savings accounts for individuals and joint holders, multi-currency accounts supporting over 30 currencies, low-cost international transfers, in-app bill payments and direct debits. The bank also plans to introduce Revolut Kids & Teens accounts for users aged 6 to 17, enabling supervised financial access for minors.

Premium subscription tiers, digital gift cards and a loyalty programme offering travel-related rewards are also part of the proposition, reflecting Revolut’s strategy of combining core banking with lifestyle and value-added services.

Mexico represents a significant market opportunity for digital banking players, given its large population, cross-border payment flows and ongoing demand for alternatives to traditional banking infrastructure. Revolut’s entry intensifies competition in a market where domestic FinTechs and global challengers are seeking to capture digitally engaged consumers.

Customers in Mexico can now open accounts through the Revolut mobile application, available on iOS and Android platforms.