Bunq Seeks Mexican Banking License for Expansion

European neobank Bunq has submitted an application for a Mexican banking license, signaling a strategic move to expand its global presence. The company aims to cater to the increasing population of individuals with international ties and those residing in Mexico. Obtaining a full banking license would enable Bunq to provide local residents with comprehensive banking services, including multicurrency accounts and insured deposits, thereby enhancing its service offerings in a key emerging market and potentially attracting a new customer base.