Revolut has secured regulatory approval to establish a banking entity in Peru, marking a key step in its expansion across Latin America and its ambition to operate in 100 markets globally.

The London-based fintech, which serves more than 70 million customers worldwide and recently gained a banking licence in its own home market, has been granted an Organisation Authorisation by Peru’s Superintendency of Banking, Insurance and AFP. The approval allows Revolut to formally incorporate as a bank, positioning it to become the country’s first fully digital banking institution.

The authorisation represents the first stage of Peru’s licensing process, with Revolut required to undergo further supervisory inspection before receiving Functional Authorisation and launching full operations. The company is now preparing for this next phase, which will determine the timeline for its market entry.

Julien Labrot, chief executive of Revolut Peru, said the milestone reflected both regulatory support and the firm’s readiness to operate locally. “Securing our Organisation License is a testament to the efficient regulatory environment in Peru and our team’s dedication to meeting the highest compliance standards,” he said.

Peru has become a central component of Revolut’s regional strategy, joining Brazil, Mexico, Colombia and Argentina as priority markets. The FinTech has been accelerating its presence in Latin America as it seeks growth beyond its established European base.

The company intends to introduce a range of digital-first financial services once fully authorised, including tools designed to improve transparency and user control over personal finances. Its entry is expected to intensify competition in a market where traditional banks continue to dominate and access to financial services remains uneven.

Revolut is investing in local infrastructure and hiring as it builds towards operational readiness. The firm is also leveraging its global technology platform while adapting products to regional conditions, with a focus on aligning services to Peru’s economic environment.

The approval signals growing regulatory openness in Latin America to digital banking models, particularly those offering broader financial ecosystems beyond basic accounts. Revolut’s progress in Peru will be closely watched as it moves towards launch and begins competing with established regional FinTech players.

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