Revolut opens its first licensed bank outside Europe in Mexico with an investment of over $100 million

ChainCatcher News, the UK fintech giant Revolut announced the official launch of full banking operations in Mexico, marking the company’s first licensed bank outside Europe. Revolut becomes the first independent digital bank approved through direct application to regulators (rather than acquiring or partnering with local institutions), with an investment of over $100 million, double the regulatory minimum requirements, and a capital adequacy ratio of 447.2%.

Rating agency HR Ratings awarded a long-term HR AAA rating, while S&P gave a mxA+ stable outlook rating. CEO Nik Storonsky stated that Mexico will become a blueprint for emerging market expansion. Revolut’s 2024 revenue is projected at $3.8 billion, with four consecutive years of profitability, and an estimated valuation of $75 billion in 2025.