Revolut has received approval to acquire a bank in Argentina. When will it launch?

British fintech company Revolut has received approval from Argentina’s central bank to acquire Banco Cetelem Argentina from BNP Paribas SA, the company announced. This deal removes a key regulatory hurdle to the launch of Revolut’s banking services in the country, according to Bloomberg. The approval allows the service to continue preparations for its commercial launch in 2027, said Agustín Danza, CEO of Revolut Argentina.

Once the transaction is completed, Banco Cetelem will be renamed Revolut Bank Argentina SAU. Initially, it will not offer any products or services to the general public. “During this initial phase, the bank will focus on meeting all regulatory and operational requirements, refining its value proposition, and preparing for its future market launch,” the company said.

Looking ahead, Revolut plans to launch a single app that combines everyday banking, lending, international money transfers, and wealth management services. According to the company, more than 150,000 people have already signed up for the waitlist ahead of the launch in Argentina.

In Argentina, the digital bank will have to compete with Mercado Pago — the fintech division of e-commerce giant MercadoLibre, which dominates the digital wallet segment — as well as with banks and fintech companies Ualá and Naranja X.

Latin America remains one of Revolut’s top priorities for expansion outside of Europe. The region is attractive due to its large population, which has traditionally had limited access to traditional banking services. The company currently operates as a bank in Mexico and under a direct lending license in Brazil (which does not grant it the right to offer a full range of banking services). In 2025, the fintech company obtained a full banking license in Colombia, and in January 2026, it applied for a banking license in Peru.

This article was AI-translated and verified by a human editor