Revolut, the London-based digital bank and fintech giant, is making a bold move into Latin America by applying for a full banking license in Peru. If approved, Revolut will operate as a regulated bank, joining its regional expansion alongside Mexico, Colombia, and Brazil.
The strategy is clear: target remittances and cross-border payments — a market that moves nearly $5 billion annually into Peru. Around 1 million people in the country rely on money sent from abroad, making the remittance corridor one of the most important financial lifelines in the region.
According to Revolut Peru CEO Julien Labrot, the goal is to increase competition and improve access to financial services, especially for people underserved by traditional banks.
Why Remittances Matter in Latin America
Latin America is one of the world’s largest recipients of remittance flows. High fees, slow settlement times, and limited banking access have long plagued users.
This is where fintech and crypto-enabled infrastructure shine:
- Lower fees than traditional banks
- Faster settlement across borders
- Mobile-first access for the unbanked
- Seamless integration with stablecoins
Revolut’s move aligns with a broader regional trend:
- Mercado Pago launched a USD-pegged stablecoin in Brazil
- Nubank is building stablecoin-linked payments
- Crypto wallet Lemon scaled to over 1 million users in Peru
- Latin America recorded nearly $1.5 trillion in crypto transaction volume (2022–2025)
In October 2025, Revolut introduced 1:1 USD conversion for USDC and USDT, and stablecoin payment volumes on its platform surged 156% YoY to over $10.5B.
This shows a future where banking + stablecoins + crypto rails converge into a faster, cheaper global payment system.
What This Means for the Crypto Economy
Revolut’s banking license push is not just about Peru — it’s about redefining how money moves globally:
- Traditional banks face pressure from crypto-native rails
- Stablecoins become the backbone of borderless finance
- Emerging markets leapfrog legacy systems
- Users gain sovereignty over money movement
This is exactly the direction the global digital economy is heading.
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The revolution in finance is already underway.
Revolut’s move into Peru is just another sign that crypto-native infrastructure is becoming the global standard.