Revolut seeks full banking license in Peru to grow remittance and stablecoin services

Revolut has applied for a full banking license in Peru as part of its Latin American expansion, aiming to target remittances and cross-border payments. The neobank plans to compete with established lenders in markets including Peru, Mexico, Colombia and Brazil, while building on strong growth in its crypto and stablecoin offerings. Its strategy comes as regional fintechs such as Mercado Libre, Nubank and Lemon ramp up dollar-pegged stablecoin products across Latin America.