Revolut has moved out of its beta phase in Mexico and has begun full banking operations in the country, marking a significant step in its expansion strategy.
The rollout allows new customers to open an account entirely through the Revolut app by completing a digital onboarding process.
The Mexican entity, Revolut Bank S.A., Institución de Banca Múltiple, is the first bank the group has launched outside Europe. With this move, Revolut extends its footprint to 40 countries and establishes a base in one of Latin America’s largest financial markets. According to representatives from Revolut, the launch is intended to serve as a reference point for further expansion into other fast-growing regions.
Before commencing full operations, Revolut capitalised its Mexican bank with more than USD 100 million, exceeding local regulatory requirements. This resulted in a capital adequacy ratio of over 400% at launch, positioning the institution with a sizeable capital buffer. Revolut is also the first digital-only bank to secure a Mexican banking licence through a direct application rather than an acquisition.
Credit ratings and initial operations
Shortly after receiving authorisation to operate, Revolut Bank S.A. obtained initial credit ratings from local agencies. HR Ratings assigned top-tier long-term and short-term ratings with a stable outlook, while S&P Global’s national scale also issued investment-grade ratings with a stable perspective. The agencies cited strong capitalisation, liquidity levels and support from the wider Revolut Group as key factors behind their assessments.
Revolut officials said the Mexican bank launches with a full range of digital banking services, including savings products, domestic and international transfers, foreign currency accounts and bill payments. Additional features include joint accounts and family-focused products, with some services scheduled to roll out gradually. Premium subscription tiers and rewards programmes are also part of the initial offering.
The Revolut Group, founded in 2015, reported profitability for the fourth consecutive year in 2024. The company disclosed revenues of USD 3.8 billion for that year and employs more than 10,000 people globally. Its most recent funding round in 2025 valued the group at USD 75 billion.
