Dutchneobank Bunq has applied for a banking license in Mexico, the company said,opening a third regulatory front for the digital lender after a fresh USapplication earlier this year and its existing European banking permit.Dutch Neobank Bunq Appliesfor Mexican Banking LicenseThe filingwould let Bunq, which describes itself as Europe's second-largest neobank,offer full-service banking, multi-currency accounts and protected deposits inMexico, according to the company. Bunq did not disclose a target launch date orcapital commitment. Mexicanbanking authorizations run through the National Banking and SecuritiesCommission, known as the CNBV, in coordination with Banco de México and theMinistry of Finance.The Mexicopush comes roughly four months after Bunq refiled for a US national bankcharter with theOffice of the Comptroller of the Currency in January, two years afterwithdrawing its first attempt.Founder andChief Executive Ali Niknam has framed the dual push as part of an effort toserve customers who split their lives across countries."Bunqis designed for people who live, work, and travel across borders, and as avital hub connecting the Americas, Mexico is a natural home for us,"Niknam said in a statement. He added that the bank's users "need a bankthat is safe, secure and easy to use, wherever they are."A Crowded Mexican RaceBunq Is Joining LateTheapplication places Bunq behind several digital banks already moving throughMexico's licensing pipeline. Revolut, the UK fintech valued at around $75billion, received final operational approvalfrom the CNBV and Banco de México on October 20, 2025, becoming the first independentdigital bank to clear Mexico's full licensing process from scratch.Revolut'slocal entity, Revolut Bank S.A., is now opening accounts for a waiting list thecompany estimated at nearly 200,000 people as of May 2025, with a statedone-year target of 1.5 million customers. Juan MiguelGuerra, who runs the Mexican bank, has said the launch will lean on freeinternational transfers, an area where Bunq's product would directly overlap.Brazil'sNubank, thelargest digital bank in Latin America with around 94 million customers, isfurther along the same path. Its Mexicansubsidiary received CNBV approval in April 2025 to convert into a multiplebanking institution under the name Nubank S.A., and is now in thesystems-testing phase ahead of final operational sign-off, according to acompany filing with the US Securities and Exchange Commission.Cross-Border Money Is thePrizeMexico'sappeal for foreign digital banks rests on one of the world's largest remittancecorridors. Inflows reached a record $63.3 billion in 2023, the bulk of it fromthe United States, and the share of Mexican adults with a bank account remainsbelow most OECD peers. Thosenumbers are what neobanks targeting "global citizens," as Bunqdescribes its users, are trying to capture.Otherforeign players have entered through different doors. Webull moved into thecountry by acquiring Mexican investment appFlink in November 2023 and picking up local brokerage Vifaru Casa de Bolsa as part of thedeal. Australia-headquarteredAirwallex took the payments route, buying Mexican payment serviceprovider MexPago in January 2025 to support cross-border transactions for businesses. Neither pursued afull deposit-taking license.Aggressive GlobalPipeline, Mixed ExecutionBunq hasbeen pushing hard outside Europe. The company secured a US broker-dealerlicense from FINRA in October 2025, launched flexible crypto stakingthrough a partnership with Kraken across the EU, and reached 20 million users inSeptember 2025,placing it second in Europe behind Revolut's 60 million.The USbanking effort has not been smooth. Bunq filed with the FDIC in New York in2023, withdrew the application in April 2024 citing regulatory issues, andreturned to the OCC in January 2026 under what Niknam has described as a morefavorable supervisory environment. Mexico nowjoins that pipeline, with no disclosed timeline on either authorization.This article was written by Damian Chmiel at www.financemagnates.com.