Revolut Moves Closer to Argentine Banking Licence as Regulator Signals Approval Before Year-End

Revolut is moving closer to operating as a fully licensed bank in Argentina after a senior official at the country’s central bank indicated that regulatory approval could arrive before the end of 2026.

Juan Curutchet, director of the Central Bank of Argentina (BCRA) and superintendent of financial and foreign-exchange institutions, said the authority expects both Revolut and Mercado Libre’s financial business to obtain banking authorisation within the coming months.

The announcement provides the clearest official timeline to date for Revolut’s entry into the Argentine banking system. However, the process has not yet formally concluded, and the corresponding regulatory resolution remains pending.

For Revolut, approval would unlock the acquisition of Banco Cetelem Argentina from France’s BNP Paribas Personal Finance. The transaction was announced in June 2025 and remains subject to the BCRA’s consent.

Rather than building a regulated entity from the ground up, the acquisition would give Revolut an existing banking platform, local infrastructure and access to a licence capable of supporting deposits, payments and lending products.

A New Competitor in Argentina’s Financial Market

The prospective arrival of Revolut comes as Argentine regulators seek to increase competition and expand access to credit.

Curutchet said new entrants are prepared to commit capital to the country because they see opportunities in a financial system where lending remains relatively shallow compared with other Latin American markets.

The regulator expects additional banking licences and changes to payment and collection mechanisms to encourage more competition for customers, deposits and credit demand.

Revolut has not yet confirmed the complete product range or commercial launch date for Argentina. Its international model, however, combines digital accounts, cards, savings products, foreign-exchange services, international transfers, investments and consumer lending through a single application.

Argentina offers considerable potential for that proposition. Consumers are already accustomed to digital wallets and instant transfers, while recurring currency volatility has increased demand for services that simplify access to foreign currencies and cross-border payments.

The company will nevertheless enter a competitive market. Mercado Pago, Ualá and other fintech platforms have built large customer bases, while traditional banks have accelerated their own digital transformation.

Obtaining a banking licence would allow Revolut to compete across a broader range of products than a conventional payment platform, particularly in deposits and credit.

Revolut Builds a Five-Market Latin American Network

Argentina forms part of a wider regional strategy through which Revolut is combining banking licences, acquisitions and locally adapted operations.

The company entered Brazil in 2023 and subsequently secured a banking licence in Mexico, where it launched services in early 2026 and has continued investing in its local operation.

In Colombia, Revolut recently obtained the authorisation required to operate as a bank and is preparing a commercial launch in 2027. Its initial offering is expected to include deposit and savings accounts, credit cards, international transfers and unsecured consumer loans.

The fintech has also advanced its entry into Peru, where it applied for a full banking licence and received authorisation to begin formally establishing a local bank.

These moves would give Revolut a presence across five Latin American markets: Brazil, Mexico, Colombia, Argentina and Peru.

The strategy reflects the attraction of a region with widespread smartphone use, growing adoption of digital finance and significant demand for cheaper international transfers and more accessible financial services. Revolut is also seeking to adapt its model to local habits rather than reproducing its European offering without changes.

Approval Would Mark the Start, Not the End

Receiving the BCRA’s approval would represent a decisive step, but Revolut would still need to complete the acquisition, integrate the local operation and prepare its products for commercial launch.

The timing and scope of its Argentine offering will depend on that process, as well as on local capital requirements, technological integration and the company’s product strategy.

Globally, Revolut has expanded beyond its original role as a travel and foreign-exchange application to become a broad financial platform serving more than 80 million customers.

Argentina would provide another test of whether that model can be transferred successfully to Latin America’s largest financial markets.

If the authorisation is issued within the timeframe outlined by the BCRA, Revolut will enter the final stage of its Argentine expansion and add another regulated banking operation to its growing regional network.