Revolut has reportedly made its initial entry into Latin America with a launch in Brazil.
Revolut‘s global account will provide local consumers with foreign exchange and remittance capabilities in 27 different currencies, along with having a payment card that is accepted in over 150 nations.
Nik Storonsky, co-founder and CEO, stated:
“Our mission is to unlock a borderless economy with financial products that are accessible and easy to use and that allow our customers to use their money efficiently. We will start with the global account and crypto investments, but this is just the beginning.”
Glauber Mota, appointed from BTG Pactual to spearhead the launch in Brazil, explains:
“The total that Brazilians spent abroad more than doubled in 2022, totalling $12 billion, and there is growing demand for access to crypto assets with more than ten million individual investors in Brazil. Revolut offers Brazilians an app that meets all these needs in one place, with a high-quality UX that has not yet been seen in the Brazilian market.”
Revolut has now claimed 25 million clients globally as part of a rapid growth strategy that will see the Fintech super-app provider offer financial services in large markets such as India, Mexico, and New Zealand in the foreseeable future.
In India, the Fintech company has formed a professional team of over 400 workers for its upcoming launch.
Workforce expansion is also planned for Mexico, with the intention to hire over 250 new roles by 2025 between Mexico and Brazil.
The Fintech firm also revealed that it is ready to go live in New Zealand in the coming months to complement its business operations in Australian markets.