Revolut Seeks Peru Banking License to Expand in Latin America
Generally, You Should Know That Revolut is trying to get a banking license in Peru. Obviously, This is a big deal because Peru’s banking sector is dominated by a few traditional institutions, with the top four banks controlling about 82% of all loans, according to the regulator SBS. Normally, This lack of competition opens a door for fintech firms like Revolut to step in and offer alternatives.
Why Peru?
Basically, Julien Labrot, CEO of Revolut Peru, said the company wants more competition and better access for underserved communities. Usually, He highlighted remittances as a key focus – roughly one million Peruvians rely on money from abroad, with $4.93 billion sent in 2024, which is a lot of money. Apparently, This is a big opportunity for Revolut to make a difference.
Revolut’s Broader Latin America Strategy
Apparently, The Peru move fits a larger push across Latin America, where Revolut already operates in Mexico, Colombia, Argentina and Brazil, providing digital banking, crypto trading and more. Normally, Securing a local banking license lets Revolut roll out products tailored for Peruvian users instead of only competing with other fintech startups. Generally, Fintechs in the region are increasingly adding cryptocurrency and stablecoin services, which is a trend that Revolut is following.
Stablecoins and Everyday Use
Obviously, Revolut’s stablecoin push is notable, and in October 2025 the firm added 1:1 U.S. dollar conversions for USDC and USDT, letting users swap dollars into digital assets instantly. Usually, This move has led to a big increase in stablecoin payment volume on Revolut, which jumped about 156% YoY to $10.5 billion in 2025. Basically, On-chain data from Dune Analytics shows stablecoins are moving beyond trading – roughly 30-40% of payments fall between $100 and $500, signaling everyday adoption.
A Record Year for Revolut
Generally, April 2025 saw Revolut report a 130% profit increase for 2024, reaching £790 million ($1.06 billion), which is a lot of money. Apparently, Growth stemmed from a surge in customers and a rebound in crypto trading, which is a big part of Revolut’s business. Normally, With over 45 million users worldwide, Revolut is solidifying its role as a digital-banking leader.
What’s Next?
Basically, If the Peruvian banking licence is approved, Revolut will be positioned to challenge both traditional banks and fintech rivals. Usually, By leveraging its digital-banking, crypto and remittance expertise, the company could shape the future of finance across Latin America. Obviously, The fintech world is watching closely as Revolut navigates the regulatory process and prepares to launch services in one of the region’s most promising markets. Generally, You should keep an eye on this development because it could have big implications for the future of finance.
