With the process of globalization, the interaction among financial markets has increased, and financial structures across countries have begun to exhibit similarities over time. This phenomenon highlights the concept of financial convergence, which refers to the tendency of countries’ financial indicators to move toward a common long-term equilibrium. Financial convergence provides a theoretical framework for understanding the depth of financial integration and is crucial for assessing the stability of global financial markets and their effects on economic development. This study investigates the validity of the financial convergence hypothesis for the MINT countries—Mexico, Indonesia, Nigeria, and Turkey. To this end, the convergence of financial development indices of these countries toward the U.S. financial development index is analyzed using the panel CADF unit root test. The results support the financial convergence hypothesis at the panel level; however, country-specific analyses confirm the hypothesis only for Indonesia and Mexico. In contrast, no evidence of financial convergence is found for Nigeria and Turkey. Based on these findings, it is recommended that Nigeria and Turkey implement measures to deepen their financial markets, establish legal regulations that enhance investor confidence, adopt policies to reduce exchange rate volatility, and encourage foreign direct investment to facilitate financial convergence. This study contributes to the understanding of financial convergence dynamics and provides policy implications for improving financial integration in emerging economies.