Revolut has received approval from Mexico's National Banking and Securities Commission, known by its Spanish acronym CNBV, to operate as a fully licensed bank in the country. The authorisation enables Revolut to offer deposit-taking and credit services in Mexico, completing a licensing process in which Revolut applied for a full banking licence from scratch, after receiving authorisation to establish the bank in April 2024.
LICENSING PROCESS
Revolut obtained its Mexican banking licence in April 2024, and has now received final authorisation from the CNBV, with approval from the Bank of Mexico, to begin operating as a multiple banking institution.
GLOBAL EXPANSION TARGET
Mexico is described by Revolut as a key Latin American market within a global expansion strategy that targets 100 million customers by 2027.