Revolut drops takeover plans, seeks US banking license: Report
Revolut is planning to apply for a US banking license through the OCC after previously considering a bank acquisition that could have required branch commitments.
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 (OCC), the newspaper reported Friday, citing people familiar with the matter.
The move, if confirmed, would be a milestone in strategy for Revolut, which said in September 2025 that it was exploring the purchase of a US bank to accelerate its global expansion.