💣Argentina🇦🇷: British-Lithuanian neobank Revolut🇬🇧🇱🇹confirms the acquisition of Banco Cetelem

💣Argentina🇦🇷: British-Lithuanian neobank Revolut🇬🇧🇱🇹confirms the acquisition of Banco Cetelem

Revolut will acquire the assets of Banco Cetelem—valued at USD 6.4 million—and, more significantly, a banking license.

▶️ Revolut will face competition from local fintech players such as Ualá and Mercado Pago, as well as established European institutions like BBVA and Santander.

▶️ Context: Argentina becomes the fourth Latin American market where Revolut is launching operations. The Argentine market offers advantages such as high smartphone penetration, a young population, and rapid adoption of financial technologies—factors that support crypto acceptance and the growth of digital payments.

▶️The deal is still subject to approval by the Central Bank of the Argentine Republic.

#news #Argentina #Europe

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