Revolut Bank, a digital financial platform known for simplifying money management for individuals and businesses, has received approval from the National Banking and Securities Commission (CNBV) to operate as a subsidiary in Mexico. This milestone marks a significant step in the expansion of digital financial services in the country.
With over 35 million customers in 38 countries, Revolut Bank has achieved notable success, such as being the most downloaded financial app in 9 countries in 2023 and ranking among the top three financial apps in more than 15 European countries.
As per the CNBV’s mandate, Revolut Mexico is required to start with a capital of 1,441.2 million pesos, which will increase to 1,811.7 million pesos before commencing operations. This financial requirement is in line with other recently approved digital neobanks in Mexico.
This move by the CNBV not only demonstrates Mexico’s commitment to financial innovation but also positions Revolut Mexico favorably to enter the market with a strong and competitive value proposition.
