Overview
- Mexico’s CNBV, with Banxico approval, granted Revolut final authorization on Oct. 20 to begin operations as an Institución de Banca Múltiple, a process the company says it completed from scratch as an independent digital bank.
- Executives say a limited beta for waitlist users will start within the legal 30‑day window, with a broader market rollout planned for early 2026 after phased testing.
- Customer deposits will be protected by IPAB up to roughly 3.4 million pesos, and authorities have outlined supervisory checks that include a reported 185‑day operational verification period to safeguard users.
- Revolut’s Mexico offering will use subscription tiers (from a free standard plan to premium options) and initially focus on N4 debit accounts, multi‑currency payments, and international transfers, with a credit card and yield accounts targeted for 2026 and personal/payroll loans later.
- S&P projects losses during the first 24 months but faster growth thereafter, with a credit portfolio near 4.5 billion pesos by end‑2027 backed by parent capital; the unit launches with about 1.8 billion pesos in capital and a management target of roughly 1 million users in year one.