Mercado Libre and Revolut to obtain Argentine banking licenses

The Central Bank of the Argentine Republic (BCRA) anticipates that Mercado Libre and the international fintech Revolut will obtain banking licenses before the end of the year. Juan Curutchet, a director at the BCRA and Superintendent of Banks, announced this expectation during a panel, noting that the move aims to increase competition within the financial system and expand credit availability.

Mercado Libre, through its payment platform Mercado Pago, began its application process in May 2025 to establish a digital banking model. The company intends to consolidate its financial services across Latin America, following similar expansions in Brazil and Mexico. The arrival of these large-scale players is expected to drive competition for customers and deposits, potentially increasing credit levels in the country.

In addition to these two companies, the BCRA noted that other potential players and firms linked to the capital markets are also seeking to enter the banking sector.