Banking
Mexico — Banking: Online Banks
Mexican regulators have authorised two digital financial firms to become full banks, but both authorisations were conditional. The Diario Oficial de la Federación published on 23 May 2025 the CNBV's authorisation to organise and operate Nubank, S.A., Institución de Banca Múltiple, through the transformation of Nu México Financiera; before operating, it must get the CNBV's separate authorisation to start operations. On 22 April 2024 the DOF published the authorisation to transform Revolut de México into Revolut Bank, S.A., Institución de Banca Múltiple, also subject to authorisation to begin operations and to paid-in capital of 1,811,791,055 pesos. In October 2026 the CONDUSEF listing still described Nu México Financiera as authorised under the SOFIPO regime. Check the CNBV's supervised-entities register to confirm which have started operating as banks.
Key facts
- The DOF published on 23 May 2025 the CNBV authorisation to organise and operate Nubank, S.A., Institución de Banca Múltiple; it must obtain authorisation to start operations before operating.
- The DOF published on 22 April 2024 the authorisation to transform Revolut de México into Revolut Bank, S.A., Institución de Banca Múltiple, subject to authorisation to begin operations and paid-in capital of 1,811,791,055 pesos.
- CONDUSEF's listing in October 2026 still described Nu México Financiera as a SOFIPO; confirm current status on the CNBV register.
Common mistakes
- Assuming a bank authorisation means it already operates as a bank — each also needs authorisation to start operations.