UK-based fintech Revolut is preparing to apply for a banking license in the United States. The company is said to be engaging with the Office for the Comptroller of the Currency as it abandons earlier plans to acquire a US bank.
The strategic shift follows Revolut’s 2025 consideration of a bank acquisition to accelerate its US expansion. Sources cited by the report said a takeover could have required maintaining physical branch networks, adding operational complexity. Applying directly for a license may offer a faster and more flexible path under the current US regulatory environment.
Revolut was valued at $75 billion following a November share sale and has committed $13 billion to global expansion over five years. While the company has yet to fully roll out banking services in its home UK market, the reported move underscores its ambition to establish a regulated banking presence in the US.
