Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
According to a report published by Bloomberg Revolut has applied for a banking license in Peru as part of its Latin American expansion.
Important points:
- Revolut is applying for a banking license in Peru to expand its operations in Latin America.
- The company focuses on remittances in banking markets that have a large number of employed people.
- The growing use of cryptocurrencies and stablecoins strengthens Revolut’s regional strategy.
If approved, the move will allow the London-based digital bank to operate as a permanent lender in the country, adding Peru to a growing portfolio that already includes Mexico, Colombia, Argentina and Brazil.
The company said the license would allow it to offer local banking products and compete directly with existing banks in Peru instead of competing with new fintechs.
Revolut is targeting the stable banking market in Peru with a money transfer campaign
Peru’s financial system is highly structured, with the four largest banks accounting for around 82% of all loans, according to data from the National Banking Regulator SBS.
Julien Labrut, CEO of Revolut Peru, said the company sees an opportunity to increase competition and improve access to income, especially for underserved users.
Remittances are expected to play an important role in this process, with Labrutt estimating that around one million people in Peru depend on remittances.
According to the World Bank, remittances to Peru will reach $4.93 billion in 2024.
The licensing deal comes as Revolut continues to expand its core platform, including its services related to cryptocurrencies and digital assets.
The digital bank, founded in 2015, had a record year in April 2025, with 2024 net profit rising 130% to £790 million ($1.06 billion), driven by customer growth and a rebound in cryptocurrency sales.
In October 2025, Revolut offered a 1:1 exchange rate to USD For stablecoins, allowing users to exchange dollars directly to USDC and USDT.
Revolut’s move reflects a trend among fintech companies in Latin America that are delving deeper into cryptocurrency and stablecoin-based services.
He founded Mercado Libre A fixed currency pegged to the dollar In Brazil in 2024, that’s right Nubank is making… Stablecoin fees related to its trading.
A Chainalysis report shows that the region generated about $1.5 trillion in cryptocurrency transaction volume between July 2022 and June 2025, explaining why… Global companies like Revolut are accelerating their ambitions in Latin America .
A significant increase in stablecoin payments on the Revolut platform as their daily activity increases
As we said, The use of stablecoins on the Revolut platform will increase significantly in 2025 Revenues are estimated to have jumped 156% year over year to nearly $10.5 billion.
Although Revolut has not published official numbers, data on the blockchain show that stablecoins will almost double their share of total payments on the platform compared to 2024, showing the growth of adoption beyond sales and transfers.
Blockchain data collected through Dune Analytics shows that growth was flat throughout the year rather than driven by short-term spikes.
Most of the transactions came from regular markets, transfers between $100 and $500 make up about 30% to 40% of stablecoin payments, which shows that users are increasingly relying on digital dollars for their daily use.
A note Revolut has applied for a banking license in Peru as it seeks to accelerate growth in Latin America. appeared for the first time Cryptonews Arabic.
