⚡️Revolut, the British-Lithuanian online bank, has obteined a license to operate in Mexico🇲🇽

⚡️Revolut, the British-Lithuanian online bank, has obteined a license to operate in Mexico🇲🇽
The change in status places Revolut Mexico on par with other digital banking giants, such as "OpenBank" (Santander), "Bineo" (Banorte) and "Hey Banco" (BanRegio), which have felt quite comfortable in the Mexican market in recent years.

➡️ According to the rules of the Mexican regulator (CNBV), Revolut's initial capital must be 88,244,243.64 USD, and by the time of opening, it should increase to 110,929,847.49 USD.

➡️ A bit of context: in the last 10 years, digital transactions in Mexico have increased by more than 400%, and currently more than 50% of customers prefer to conduct banking operations through mobile applications. However, only 18% of customers wish to be served at a bank branch.

➡️ By the third quarter of 2023, there were more than 82 million mobile bank accounts in Mexico.

➡️ Revolut , founded by Nikolay Storonsky and Vlad Yatsenko, appears to be quite competitive in the Mexican market. Currently, the bank has more than 35 million customers in 38 countries and can boast of having one of the most downloaded banking applications in Europe.

#news #Mexico