Revolut seeks Peru banking license to expand Latin America footprint

Jan 19 (Reuters) - Britain's Revolut said on Monday it has applied for ​a full banking license in ‌Peru, marking the global fintech firm's fifth market expansion ‌in Latin America.

The $75 billion company - pegged as Europe's most valuable financial technology company - has been rapidly growing into global ⁠high-growth markets under ‌its strategy to reach 100 million customers by 2027.

It recently ‍received a crypto license in Cyprus and announced plans to launch a payment platform in ​India.

Revolut's Peru foray reflects growing private ‌sector interest in Latin America's digital banking sector, as near-universal smartphone adoption and a still-underbanked population create opportunities for digital fintech firms.

A full license would allow ⁠Revolut to gradually introduce ​a wider range of ​localised products.

The London-based firm, which has more than 70 million retail ‍customers globally, ⁠has already announced expansion plans in Brazil, Mexico, Colombia and Argentina as ⁠it seeks to capture market share in the ‌region's rapidly digitising economies.

(Reporting by Yamini ‌Kalia in Bengaluru)