Revolut has been granted permission by the Superintendencia Financiera de Colombia (SFC) to establish Revolut Bank Colombia S.A.

The authorization signifies Revolut’s formal entry into the Colombian market as a fully regulated bank, and it is an important milestone in its ambition to become a global banking provider. With this new license, Revolut can now develop its own banking services and infrastructure within the country, marking the first of two regulatory steps it aims to complete.

Latin America Expansion

The operations in Colombia will be managed by Revolut’s local subsidiary, which is currently in the process of receiving its incorporation license. This is a standard part of the regulatory pathway for new banks, enabling them to prepare fully before their official launch.

Revolut plans to introduce a comprehensive range of digital banking services designed specifically for Colombian customers when it launches in 2026. These will include savings accounts, free and instant international transfers between Revolut users, and credit cards among other financial products.

The company has committed approximately EUR32 million as initial capital to support the setup process and the growth of its operations in Colombia, reflecting its long-term investment in the region. Revolut Bank Colombia states that this approval is a significant step towards contributing to Colombia’s financial ecosystem and promoting a more inclusive and technologically advanced banking system.

As part of its global expansion strategy, Revolut aims to be one of the top three financial apps in every market it enters, including countries like the EU, UK, US, Australia, New Zealand, Japan, Singapore, and India. It is also actively expanding its presence in Latin America, following its launch in Brazil earlier this year, with plans to enter markets such as Argentina and Mexico.