Revolut has announced it has obtained final authorisation from Mexico’s National Banking and Securities Commission (CNBV), with approval from the Bank of Mexico, to begin operating as a Multiple Banking Institution in the country.

The company said the decision marks the last regulatory step before it can open its doors to the public.

Revolut claims this milestone completes its journey to becoming the first independent digital bank to directly apply for and successfully complete the full licensing and approval process “from scratch” in Mexico.

It added that it is now preparing to launch products to people in Mexico who have joined the waiting list.

Becoming a fully regulated bank allows the company to offer a comprehensive range of financial services with enhanced customer protection, including deposits insured by the IPAB (Instituto para la Protección al Ahorro Bancario) for up to around 3.4 million Mexican pesos.

Revolut said it continues to invest in the market with a world‑class local team and is actively hiring across levels and functions.

“We are exceptionally proud of our team and the bank we have built here in Mexico. We are very grateful to the authorities for this vote of confidence and their commitment to fostering competition in the industry, and we are confident that our offering will benefit millions of people across the country,” said Juan Miguel Guerra, chief executive of Revolut Bank S.A., Institución de Banca Múltiple, Revolut’s bank in Mexico. “We have tailored our world‑class banking app to serve customers across Mexico, whether at home or abroad, and this is just the beginning.

“We will continue to innovate and launch more products to serve all our customers’ needs in one place, so stay tuned!”

Revolut added it is also pursuing a full banking licence in Colombia and is in the process of acquiring a bank in Argentina.

Last month, Revolut secured an in‑principle approval for a payments licence in the UAE, which will enable the financial services firm to expand in the region.

Revolut said it now plans to launch in the UAE, offering its products to retail customers.

The UAE represents a “pivotal” growth market, which Revolut said is driven by its dynamic economy, high digital adoption, and strategic position as a global financial hub.

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