Revolut’s Global Expansion and Mexico Plans
Revolut, a British digital financial giant, announced its intention to commence bank operations in Mexico by early 2026. The announcement was made during the unveiling of its new global headquarters in London, England. The company has surpassed 65 million customers worldwide and aims to serve 100 million by mid-2027, expanding its presence in over 30 new markets by 2030, currently operating in 39.
Revolut has committed to investing $13 billion globally over five years to fuel its expansion. These investments will not only support growth in other European markets but also launch operations in Latin America, including Mexico.
Mexico-Specific Developments
Although Revolut began the entry process post-pandemic, it received authorization to establish itself as a bank in Mexico in April 2024. However, it has yet to initiate operations, a situation expected to change by early 2026, as per the recent announcement.
Final Stages of Regulatory Process
Carlos Urrutia, Revolut’s Global Expansion Director, recently explained that the company is in the final stages of the regulatory process (audit phase by the regulator) before starting bank operations in Mexico.
“Regulatory processes, obtaining a banking license and operating it, take time. We are on track and within good time. It’s hard to predict regulatory times, as we must respect these processes,” Urrutia stated.
He emphasized that once completed, Revolut will bring the same level of customer experience available worldwide to Mexico.
“We won’t gradually develop products; we’ll bring the full power of Revolut to Mexico from the start,” Urrutia pointed out.
Mexico: An Attractive Market for International Players
Carlos Urrutia highlighted that when Revolut considered entering the Latin American region, Mexico naturally stood out due to its advantages.
“Mexico is a fascinating country with a significant population and an extremely interesting financial market for international financial services providers,” Urrutia emphasized.
He further noted that Mexico’s global connectivity was another appealing factor.
“Mexico is one of the world’s top recipients of remittances, with substantial corridors from the U.S. and Europe. This naturally aligns Revolut’s value proposition with Mexico’s market needs,” Urrutia explained.
He anticipated that once operational, Revolut’s Mexican market would offer a customer experience similar to those in Europe and the UK. This includes multi-currency deposits, multi-currency cards, credit cards, and potentially cross-border instant payments.
Key Questions and Answers
- What is Revolut’s plan for Mexico? Revolut intends to launch bank operations in Mexico by early 2026.
- How many customers does Revolut currently serve? Revolut has over 65 million customers globally.
- What are Revolut’s expansion goals? By mid-2027, Revolut aims to serve 100 million customers and expand into over 30 new markets by 2030.
- What investments has Revolut committed to? Revolut has pledged $13 billion in global investments over five years.
- What makes Mexico an attractive market for Revolut? Mexico’s large population, growing economy, and significant remittance inflows make it an appealing market for Revolut.
- What services does Revolut plan to offer in Mexico? Once operational, Revolut intends to provide multi-currency deposits, cards, credit cards, and potentially cross-border instant payments in Mexico.
