Global fintech firm Revolut is reportedly preparing to apply for a banking license in the United States, shelving earlier plans to acquire a local lender. The move signals a strategic pivot as the company looks to deepen its presence in the world’s largest financial market.
Revolut has been in talks with US regulators about seeking authorization through the Office for the Comptroller of the Currency. Applying directly for a license would allow the company to establish a regulated banking footprint without taking on the obligations tied to purchasing an existing institution.
Previously, Revolut explored acquiring a US bank as a faster route to market. However, that approach could have required the fintech to maintain physical branch networks, adding operational complexity and cost.
Revolut US CEO Sid Jajodia reportedly said last year;
Revolut is among the world’s most valuable fintech companies, with a reported $75 billion valuation following a recent share sale. The firm unveiled an ambitious global strategy in 2025, committing $13 billion over five years to expand internationally and scale regulated financial services.
Executives have emphasized that speed to market is critical, particularly in the fast-moving fintech and crypto sectors. The company is reportedly optimistic that a more permissive regulatory climate could accelerate approval timelines.
While pushing into the US, Revolut is still progressing toward becoming a fully operational bank in the UK, after receiving a restricted license in 2024.
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