Revolut, the London-based digital bank, is preparing for a potential entry into Morocco as part of its broader international expansion plans.
The company has begun building a local team to support its efforts in the North African country.
A Revolut spokesperson told Asharq, as reported by 7news Morocco, that the fintech firm is currently assessing multiple international markets, with Morocco standing out as a promising option for expansion in the MENA region.
While still in the early stages, the company has initiated the process of securing regulatory approval from Bank Al-Maghrib, the country’s central bank.
Revolut, which offers a broad range of digital financial services including savings accounts, loans, currency exchange, cryptocurrency trading, and investment tools, has stated it will be ready to operate in Morocco once the necessary licenses are obtained.
The company currently serves more than 60 million users globally and processed over US$1 trillion in transactions in 2024.
Its estimated valuation stands at approximately US$45 billion.
To lead its Moroccan operations, Revolut has appointed Amine Berrada, a former Uber executive who oversaw activities in Southern and Eastern Europe.
Featured image credit: Edited by Fintech News Africa, based on image by Afker Moiz via Unsplash
