Key Highlights:
- Revolut scraps plans of buying US financial institution as per report by Monetary Occasions.
- The corporate is planning to file a brand new, federally chartered US financial institution license because the approval may come sooner.
- Revolut says it’s nonetheless exploring choices as knowledgeable to Reuters.
Revolut is a fintech firm based mostly within the UK that has deserted plans to amass a US financial institution and it has been reported by Monetary Occasions at the moment, January 23, 2026, that it’s going to now straight apply for a US banking license. The principle motive behind this swap is to attempt for sooner financial institution approval within the US, as the principles could also be extra relaxed proper now.
This transfer additionally signifies that the corporate desires to develop itself within the US market as the corporate is dealing with strict licensing hurdles in different international locations.
Acquisition Plans Scrapped
If the corporate would have moved ahead with this choice then it could have provided loans to greater than 50 states underneath a single federal setup. However after trying on the processes and necessities, the corporate had a sense that acquisition may make issues messy and US regulators might anticipate issues corresponding to sustaining bodily branches and different necessary necessities.
Your complete strategy of change within the possession is one thing that wants meticulous particulars to be taken care of and this might have slowed all the course of as nicely. Additionally, the fintech firm didn’t publicly affirm which financial institution it was taking on.
Nothing Finalized But
When Reuters reached out to Revolut’s for response to the report, Revolut advised Reuters it continues to actively discover all choices, together with a de novo financial institution licence software within the US.
“The U.S. market is important for Revolut’s international progress technique and out long-term plan is to determine a financial institution within the U.S.,” Revolut stated in an emailed assertion to Reuters. The assertion clearly signifies that nothing is remaining but and the choice may change as nicely.
Regulatory Optimism
It’s being stated that OCC (Workplace of the Comptroller of the Forex) approval for a brand new, federally chartered US financial institution license may come sooner underneath the Trump administration as he desires US to change into the crypto capital of the planet.
There was a rise in de novo functions within the current occasions however the consequence will not be but assured, and Revolut’s success stays unsure.
Broader Context and Historical past
The UK based mostly firm has been attempting to develop its wings within the US market since 2020, nevertheless it has ever since skilled set backs, like in 2021, licensing pushed down and it paused some crypto providers in 2023.
Within the UK, the corporate acquired solely a restricted licence in 2024 after years of delays over threat and management points. This simply signifies how troublesome and gradual banking approvals are within the first place.
Additionally Learn: McLaren Companions with Hedera for Free Fan Digital Collectibles
Key Highlights:
- Revolut scraps plans of buying US financial institution as per report by Monetary Occasions.
- The corporate is planning to file a brand new, federally chartered US financial institution license because the approval may come sooner.
- Revolut says it’s nonetheless exploring choices as knowledgeable to Reuters.
Revolut is a fintech firm based mostly within the UK that has deserted plans to amass a US financial institution and it has been reported by Monetary Occasions at the moment, January 23, 2026, that it’s going to now straight apply for a US banking license. The principle motive behind this swap is to attempt for sooner financial institution approval within the US, as the principles could also be extra relaxed proper now.
This transfer additionally signifies that the corporate desires to develop itself within the US market as the corporate is dealing with strict licensing hurdles in different international locations.
Acquisition Plans Scrapped
If the corporate would have moved ahead with this choice then it could have provided loans to greater than 50 states underneath a single federal setup. However after trying on the processes and necessities, the corporate had a sense that acquisition may make issues messy and US regulators might anticipate issues corresponding to sustaining bodily branches and different necessary necessities.
Your complete strategy of change within the possession is one thing that wants meticulous particulars to be taken care of and this might have slowed all the course of as nicely. Additionally, the fintech firm didn’t publicly affirm which financial institution it was taking on.
Nothing Finalized But
When Reuters reached out to Revolut’s for response to the report, Revolut advised Reuters it continues to actively discover all choices, together with a de novo financial institution licence software within the US.
“The U.S. market is important for Revolut’s international progress technique and out long-term plan is to determine a financial institution within the U.S.,” Revolut stated in an emailed assertion to Reuters. The assertion clearly signifies that nothing is remaining but and the choice may change as nicely.
Regulatory Optimism
It’s being stated that OCC (Workplace of the Comptroller of the Forex) approval for a brand new, federally chartered US financial institution license may come sooner underneath the Trump administration as he desires US to change into the crypto capital of the planet.
There was a rise in de novo functions within the current occasions however the consequence will not be but assured, and Revolut’s success stays unsure.
Broader Context and Historical past
The UK based mostly firm has been attempting to develop its wings within the US market since 2020, nevertheless it has ever since skilled set backs, like in 2021, licensing pushed down and it paused some crypto providers in 2023.
Within the UK, the corporate acquired solely a restricted licence in 2024 after years of delays over threat and management points. This simply signifies how troublesome and gradual banking approvals are within the first place.
Additionally Learn: McLaren Companions with Hedera for Free Fan Digital Collectibles
