Revolut has applied for a full banking license in Peru as part of its strategy to expand into the Latin American market. The British fintech aims to enhance its competitive edge against major regional players by offering localized financial products and services to Peruvian users. This move marks Peru as the fifth Latin American country in Revolut's expansion, following its banking license acquisition in Mexico, bank establishment approval in Colombia, bank acquisition in Argentina, and credit license in Brazil.
Revolut Seeks Full Banking License in Peru for Latin American Expansion
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