Revolut Explores US Bank Acquisition to Accelerate Market Entry

Digital banking giant Revolut is reportedly considering the purchase of a US bank to expedite its entry into the American market. The move WOULD allow the UK-based fintech to bypass the lengthy process of securing a banking charter independently, which can take years. According to the Financial Times, Revolut is weighing the acquisition of a nationally chartered bank with an existing license.

The strategy reflects Revolut's ambition to deepen its presence in the US, one of the world's largest financial markets. A banking license would grant access to a vast customer base and deposits, particularly as UK fintechs face slower growth at home. The company is also evaluating the alternative of applying for its own license, though the acquisition route could significantly shorten the timeline.

Market observers suggest that Trump-era deregulatory policies may facilitate Revolut's licensing efforts. The Office of the Comptroller of the Currency, under a perceived pro-fintech stance, could streamline approvals. Revolut, which boasts 60 million global customers, did not respond to requests for comment.