Just over three months after obtaining authorization to begin its banking operations in Mexico , Revolut announced the end of the beta phase of the venture and the official launch of its banking operations in the country on Tuesday, January 27th.

“This launch is a model for expansion into other high-growth markets, and we are confident in replicating this success on our journey to reach more than 100 million daily active customers in 100 countries,” said Nik Storosnky , co-founder and CEO of Revolut , in a statement.

With its "complete" launch in Mexico – the Latin American country being the British fintech 's first venture outside of Europe – Revolut expands its operational map to 40 countries.

In the statement, the fintech noted that it capitalized this operation with over US$100 million – more than double the amount required by regulation, resulting in a Capital Adequacy Ratio (CAR) of 447.2% at this initial offering.

On the other hand, Revolut highlighted that this data contributed to the institution receiving "excellent" credit ratings from agencies such as S&P National Ratings and HR Ratings right from the start, signaling "stability and a solid financial foundation" from the beginning of its operations.

“We’re here to revolutionize the banking system in Mexico,” emphasized Juan Guerra, CEO of Revolut in the country. “Revolut Bank SA was launched to help people in Mexico get more out of their money – and this is just the beginning.”

This initial step includes a complete portfolio of digital banking services, which involves interest-bearing accounts, joint accounts, integrated bill payments, and fee-free transfers to other fintech clients worldwide, among other features.

“Finally, there is an elegant digital alternative to traditional institutions, offering everything from high-yield savings accounts to simple international transfers and tools for the whole family,” Guerra added.

Aside from the rhetoric and mention of traditional institutions, the fact is that, by definitively establishing itself on Mexican soil, Revolut is now on a collision course with another digital bank that has also advanced with the same discourse: the Brazilian Nubank .

Founded in 2013, Nubank chose Mexico, where it launched in 2019 with its credit card, as its first international operation. Since then, its local portfolio has expanded to include other options, and in April 2025, the company received approval to operate as a banking institution in the country.

Until now, in Mexico, the company operated as a Sociedade Financeira Popular (Sofipo), a financial institution focused on unbanked low-income clients and micro-enterprises. And, with the approval of regulators, it will be able to substantially expand its portfolio in the country.

In addition to Mexico, where it already has a customer base of 13.1 million, and Brazil, Nubank has expanded its reach to Colombia. And, in September 2025, it applied for a national banking license with the U.S. Office of the Comptroller of the Currency.

In this roadmap to consolidate its "American dream," Nubank will once again have Revolut as a "companion." Present in the United States since 2022, the British fintech company is also in the process of building its regulatory and technological base to operate in the country.

“Although Nubank is a competitor in Brazil, the real competitors are all the traditional banks,” said Sid Jajodia, CEO of Revolut in the US and global Chief Banking Officer of the fintech company, in an interview given to NeoFeed last September.

Four months later, aside from Brazil and traditional banks, the outlook is that Revolut and Nubank's paths are increasingly crossing. And today, in this competition, the Brazilian "representative," even with fewer operations, is ahead in some aspects.

While Nubank ended the third quarter with a customer base of 127 million, Revolut claims to have over 70 million customers. After briefly surpassing Nubank, the British competitor also falls behind in terms of market value in early September 2025.

At that time, Revolut was valued at US$75 billion after a secondary share offering aimed at employees. But it was soon surpassed by Nubank, which today has a valuation of US$89.5 billion.