Revolut launches full banking operations in Mexico

Core Insights - Revolut has officially launched full banking operations in Mexico, marking its first bank established outside of Europe as part of its expansion into high-growth markets [1] - The company has secured a Mexican banking license through a direct application, becoming the first independent digital bank to do so, and has capitalized its operations with over $100 million, which is more than double the regulatory minimum [1] - The expansion into Mexico targets the underbanked population in a region with relatively low traditional competition, aligning with global fintech trends [2] - Revolut is pursuing a full banking license in Peru and plans to roll out a payments platform in India, indicating a broader strategy for regional growth [2] - The Mexican banking license allows Revolut to offer a suite of digital banking services, including high-yield savings accounts, the ability to hold and exchange over 30 currencies, and international money transfers [3] - With over 70 million customers globally, the launch in Mexico serves as a blueprint for future expansion, with a goal to reach over 100 million daily active customers in 100 countries [3]