Revolut has received final authorization from Mexico’s National Banking and Securities Commission (CNBV) and approval from the Bank of Mexico to begin operations as a Multiple Banking Institution - marking its full entry into the Mexican market.
With this milestone, Revolut becomes the first independent digital bank to complete the full licensing and approval process in Mexico. The company will soon launch its banking products for users on its local waitlist.
As a fully regulated bank, Revolut will now be able to offer insured deposits through IPAB (Institute for the Protection of Bank Savings) - covering up to 3.4 million pesos per client - alongside a wider range of financial services.
Revolut said the move reinforces its strategic expansion across the Americas, complementing its existing operations in the US and Brazil, while the company also seeks licenses in Colombia and Argentina.
Currently, Revolut operates under a banking license in the EEA, supervised by the European Central Bank and the Bank of Lithuania, and holds various licenses worldwide for e-money, stock trading, crypto, and insurance services.
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