Dutch neobank Bunq has applied for a banking license in Mexico, the company said, opening a third regulatory front for the digital lender after a fresh US application earlier this year and its existing European banking permit.

Dutch Neobank Bunq Applies for Mexican Banking License

The filing would let Bunq, which describes itself as Europe's second-largest neobank, offer full-service banking, multi-currency accounts and protected deposits in Mexico, according to the company. Bunq did not disclose a target launch date or capital commitment.

Mexican banking authorizations run through the National Banking and Securities Commission, known as the CNBV, in coordination with Banco de México and the Ministry of Finance.

The Mexico push comes roughly four months after Bunq refiled for a US national bank charter with the Office of the Comptroller of the Currency in January, two years after withdrawing its first attempt.

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Founder and Chief Executive Ali Niknam has framed the dual push as part of an effort to serve customers who split their lives across countries.

"Bunq is designed for people who live, work, and travel across borders, and as a vital hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term connecting the Americas, Mexico is a natural home for us," Niknam said in a statement. He added that the bank's users "need a bank that is safe, secure and easy to use, wherever they are."

A Crowded Mexican Race Bunq Is Joining Late

The application places Bunq behind several digital banks already moving through Mexico's licensing pipeline. Revolut, the UK fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term valued at around $75 billion, received final operational approval from the CNBV and Banco de México on October 20, 2025, becoming the first independent digital bank to clear Mexico's full licensing process from scratch.

Revolut's local entity, Revolut Bank S.A., is now opening accounts for a waiting list the company estimated at nearly 200,000 people as of May 2025, with a stated one-year target of 1.5 million customers.

Juan Miguel Guerra, who runs the Mexican bank, has said the launch will lean on free international transfers, an area where Bunq's product would directly overlap.

Brazil's Nubank, the largest digital bank in Latin America with around 94 million customers, is further along the same path.

Its Mexican subsidiary received CNBV approval in April 2025 to convert into a multiple banking institution under the name Nubank S.A., and is now in the systems-testing phase ahead of final operational sign-off, according to a company filing with the US Securities and Exchange Commission.

Cross-Border Money Is the Prize

Mexico's appeal for foreign digital banks rests on one of the world's largest remittance corridors. Inflows reached a record $63.3 billion in 2023, the bulk of it from the United States, and the share of Mexican adults with a bank account remains below most OECD peers.

Those numbers are what neobanks targeting "global citizens," as Bunq describes its users, are trying to capture.

Other foreign players have entered through different doors. Webull moved into the country by acquiring Mexican investment app Flink in November 2023 and picking up local brokerage Vifaru Casa de Bolsa as part of the deal.

Australia-headquartered Airwallex took the payments route, buying Mexican payment service provider MexPago in January 2025 to support cross-border transactions for businesses. Neither pursued a full deposit-taking license.

Aggressive Global Pipeline, Mixed Execution

Bunq has been pushing hard outside Europe. The company secured a US broker-dealer license from FINRA in October 2025, launched flexible crypto staking through a partnership with Kraken across the EU, and reached 20 million users in September 2025, placing it second in Europe behind Revolut's 60 million.

The US banking effort has not been smooth. Bunq filed with the FDIC in New York in 2023, withdrew the application in April 2024 citing regulatory issues, and returned to the OCC in January 2026 under what Niknam has described as a more favorable supervisory environment.

Mexico now joins that pipeline, with no disclosed timeline on either authorization.