Revolut Drops US Bank Takeover, Bets on Direct National Banking License

TLDR

• Revolut drops U.S. bank takeover plan, pivots to direct national license strategy.
• Digital-first vision drives Revolut’s switch to a de novo U.S. banking license.
• Revolut targets faster U.S. entry by skipping costly bank acquisitions.
• New U.S. plan strengthens Revolut’s global digital banking expansion drive.
• Revolut reshapes U.S. roadmap to gain speed, control, and regulatory clarity.

Revolut has changed its US strategy and now plans to pursue a national banking license instead of buying a local bank. The company made the shift after it assessed the acquisition route and found slower timelines and higher operational demands.  The new plan positions Revolut to build a digital model without the limits of physical branches.

Revolut Walks Away from Takeover Plan

Revolut reviewed several chartered US banks but abandoned the approach because the process required extensive structural adjustments. The company expected a faster entry path, yet the findings showed greater complexity across regulatory and operational layers. Revolut determined that acquiring a bank would restrict its digital-only design and reduce its operational flexibility.

Revolut decided that a direct license application offers more control and clearer long-term benefits than a full takeover. This shift aligns with its effort to keep a lean model while still entering the largest financial market. The company stated that the US remains essential to its growth strategy.

Revolut reached a $75 billion valuation last year, and that milestone strengthened its ability to expand in major markets. The firm continues to broaden its banking reach despite limits on its UK license, which restrict its deposit base. Revolut maintains momentum across key regions and pursues new regulatory approvals.

De Novo License Moves Ahead Under New US Regulatory Climate

Revolut is applying for a de novo national banking license from the Office of the Comptroller of the Currency. The company believes the revamped agency may process applications faster, and this prospect supports its updated plan. The license would allow Revolut to tailor its US banking structure for a fully digital operation.

Revolut aims to secure lending rights nationwide and avoid dependence on state-by-state frameworks. This path offers unified oversight rather than the layered regimes that complicate market entry for global fintechs.  Recent charters granted to Circle and Ripple signal a wider opening for firms seeking national approval.

Revolut continues to assess several regulatory routes, yet the direct license now stands as its primary focus. The company aims to align its US plan with its broader global expansion program. It has not disclosed a timeline for the final filing process.

Revolut Expands Crypto and Global Banking Footprint

Revolut strengthened its European crypto presence through a new partnership that enables instant digital asset purchases with reduced fees. This move expands its platform features and supports rising demand across the region. Its MiCA license through Cyprus allows crypto activity across the European Economic Area.

Revolut is also pushing into Latin America through a banking license application in Peru. The region offers fast growth for mobile-led services, and the company aims to secure early scale. Additionally, Revolut is exploring an acquisition in Turkey to advance its entry into that market.

Revolut continues building a multi-market banking network while refining its US plans. The firm sees the direct license path as the most efficient way to anchor its American expansion. Therefore, its pivot marks a major strategic turn as it strengthens its global financial reach.

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