British fintech giant Revolut has applied for a full banking license in Peru, marking its fifth expansion market in Latin America as the company accelerates its global growth strategy.
The move underscores Revolut’s ambition to deepen its presence in high-growth, underbanked regions while building a fully regulated international banking footprint.
Valued at $75 billion, Revolut is currently Europe’s most valuable financial technology company and has been expanding aggressively as it targets 100 million customers globally by 2027.
Banking Operations in Peru
Securing a full banking license in Peru would allow the London-based firm to operate as a locally regulated bank, enabling it to gradually roll out a broader range of tailored financial products and services for Peruvian consumers.
A full banking license in Peru would enable Revolut to introduce localized savings, payments, lending, and other financial services over time, subject to regulatory approval.
The company did not disclose a timeline for when the license might be granted or when full banking operations would begin.
Latin American Market Focus
Revolut’s push into Peru reflects rising private-sector interest in Latin America’s digital banking sector, where near-universal smartphone adoption and large underbanked populations continue to attract global fintech players.
Digital-first banking models have gained traction across the region as consumers seek low-cost, mobile-based alternatives to traditional financial institutions.
The company already serves more than 70 million retail customers worldwide and has outlined ambitious plans to capture market share across Latin America’s rapidly digitising economies.
In recent months, Revolut has announced expansion plans in Brazil, Mexico, Colombia, and Argentina, positioning the region as a core pillar of its long-term growth strategy.
Global Regulatory Footprint
Beyond Latin America, Revolut has been steadily expanding its regulatory footprint globally. The firm recently obtained a crypto license in Cyprus, strengthening its digital asset offerings in Europe, and has also announced plans to launch a payments platform in India, another key growth market with a large digital-first population.
Industry Context
As competition intensifies among global fintech firms, Revolut’s expansion highlights the strategic importance of emerging markets, where digital infrastructure and consumer demand are reshaping the future of financial services.