Fintech giant Revolut is reportedly shifting its strategy for cracking the lucrative U.S. market, now planning to directly apply for a banking license instead of pursuing its earlier intent to acquire an existing local financial institution. This pivotal move signifies a bolder, more direct approach in the company's ambitious global expansion.
Pursuing a "De Novo" Banking License
According to reports, the UK-based fintech has engaged with U.S. officials, specifically the Office of the Comptroller of the Currency (OCC), to formally submit an application for a banking license. This marks a departure from its previously announced strategy to acquire a U.S. bank, a plan divulged in September 2025 as part of its accelerated global growth agenda. The decision to opt for a "de novo" license is driven by the belief that direct approval could be achieved more quickly, particularly under the perceived deregulatory and crypto-friendly stance of the Trump administration. Furthermore, acquiring a traditional community bank might have burdened Revolut with maintaining physical branch networks, an operational model less aligned with its digital-first philosophy.
Strategic Ambition and Global Regulatory Footprint
Revolut's U.S. CEO, Sid Jajodia, has underscored the company's clear ambition to operate as a fully licensed bank in the United States, emphasizing the critical need for speed in the rapidly evolving tech landscape. This aggressive push for U.S. regulatory approval aligns with Revolut's broader strategy of securing banking and financial licenses across various international markets. In recent months, the company has successfully obtained banking licenses in countries like Colombia and Mexico, alongside a crypto-asset markets regulation license in Cyprus, demonstrating a consistent and determined global regulatory offensive. While still working towards full banking status in its home market of the UK, the company's focus on securing a direct U.S. license highlights the strategic importance it places on the American market for its long-term growth.
