Revolut Targets Latin America Growth with Peru Banking License for Remittances
Revolut has submitted an application for a full banking license in Peru, marking its latest expansion into Latin America. The move aligns with its strategy to offer regulated financial services in emerging markets. Approval WOULD position Peru alongside Mexico, Colombia, and Brazil in Revolut's regional footprint.
The neobank aims to compete in Peru's $4.93 billion remittance market, where approximately 1 million residents rely on foreign income. CEO Julien Labrot emphasized that digital banking innovations could improve financial access and transfer efficiency. Revolut's crypto services expansion over the past two years complements its broader platform growth.
The company reported positive financial results in April 2025, though the announcement was truncated. Its 2015 launch has evolved into a diversified fintech platform, with cryptocurrency offerings becoming increasingly prominent in its service suite.
