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Crypto-friendly fintech unicorn Revolut plans to apply for a banking license in the United States, abandoning earlier plans to acquire a local lender as it seeks to expand its global presence, the Financial Times reported Friday.
The United Kingdom-based fintech has been in discussions with US officials about applying for a bank license through the Office for the Comptroller of the Currency , the newspaperThe move, if confirmed, would be a milestone in strategy for Revolut, which in September 2025 that it was exploring the purchase of a US bank to accelerate its global expansion.its global strategy in 2025 and committed $13 billion in investment over the following five years to support international growth.Revolut hopes for faster US approval amid Trump’s deregulatory push “It is our ambition to be a bank in the US,” Revolut US CEO Sid Jajodia reportedly said last year, adding: “We would love to get a banking license soon, because it’s part of our objective to scale in the market.” The exec stressed that the company was still evaluating the pathways as of September 2025, adding that anything regulators can do to simplify the process would be helpful.According to the report, Revolut opted to pursue a US banking license rather than acquire a local lender, betting the approval process could move more quickly under a crypto-friendly regulatory stance of the Trump administration. Additionally, acquiring a community bank could have obliged Revolut to maintain physical branch networks, the sources said. “We continue to actively explore all options, including a de novo bank license application,” a spokesperson for Revolut told Cointelegraph.that becoming a fully fledged UK lender was its “number one” priority, yet the company is yet to fully roll out as a bank with all services available to UK customers.As part of its broader global expansion push, Revolut has been securing regulatory approvals in other markets in the past few months.
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