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Revolut Approved to Launch Digital Banking Operations in Mexico
Summary: According to reports, digital bank Revolut has announced that it has received final authorization from Mexico's National Banking and Securities Commission (CNBV) and approval from the Bank of Mexico to operate as a diversified banking institution in Mexico. This marks the final regulatory step required before the company can offer banking services to the public. ...
According to reports, digital bank Revolut has announced that it has received final authorization from Mexico's National Banking and Securities Commission (CNBV) and approval from the Bank of Mexico to operate as a diversified banking institution in Mexico. This marks the final regulatory step required before the company can offer banking services to the public. Revolut is the first independent digital bank to apply directly and complete the full licensing and approval process in Mexico from scratch. The company is now preparing to launch products to Mexican consumers who are already on the waiting list. As a fully regulated bank, Revolut can offer a range of financial services, including deposit insurance underwritten by IPAB (Deposit Insurance Agency) with coverage of up to approximately 3.4 million Mexican pesos.
