Revolut has embarked on a new strategy for its entry into the US market. It has withdrawn its previously pursued plan to acquire a local financial institution and shifted direction towards directly applying for a US banking license. This decision is based on the judgment that approval can be obtained quickly amidst the Trump administration's deregulatory stance.
The UK-based fintech company Revolut is reportedly currently in discussions with the Office of the Comptroller of the Currency (OCC) under the US Treasury Department to obtain a banking license. In September 2025, Revolut had stated it was considering acquiring a bank in the US, but this plan was ultimately withdrawn. According to internal sources, the background for switching to a direct application was that an acquisition would have entailed the obligation to operate offline branches and was also disadvantageous in terms of speed.
Revolut is also accelerating investment for global expansion. In 2025, it announced a plan to invest a total of $13 billion (approximately 19.09 trillion KRW) over the next five years. Under this growth strategy, during a corporate equity sale conducted last November, the company was valued at $75 billion (approximately 110.1375 trillion KRW), rapidly emerging as one of the world's most valuable fintech companies.
Expectations Based on Trump Administration's Deregulation
Sid Jajodia, Revolut's CEO for the US region, said in 2025, "Obtaining a banking license in the US is our goal," and "it is an essential measure to expand our foothold in the market." He also expressed anticipation for the regulatory authorities' simplification efforts, stating, "One year is a long time in the tech industry. Speed is competitiveness."
The industry views that the crypto and fintech-friendly regulatory environment being promoted by President Trump influenced this decision. Indeed, President Trump has hinted at more flexible financial regulatory policies, emphasizing increased public-private cooperation and support for innovative finance. Revolut's choice of the direct licensing route over a bank acquisition is also interpreted as reflecting this trend.
Still Operating Under a Restricted License in the UK
Meanwhile, Revolut still does not function as a full bank in its home country, the UK. In 2024, it obtained only a restricted banking license from the UK Prudential Regulation Authority (PRA), and the full launch of services has been postponed. Nevertheless, Revolut is rapidly pushing forward with overseas expansion, focusing on the South American market. As of the end of 2025, it had already secured banking licenses in Colombia and Mexico, and in October, it also received authorization related to the 'Markets in Crypto-Assets (MiCA)' regulation from the Cyprus Securities and Exchange Commission.
Whether Revolut, gaining attention as a 'crypto-friendly bank' in the global fintech market, enters the US market is expected to be a crucial turning point, intertwined with future changes in the regulatory environment and the policy direction of the Trump administration. If the pace of entering the banking business accelerates, Revolut is projected to further increase its influence in the global digital finance ecosystem.
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TP AI Disclaimer
This article was summarized using the TokenPost.ai-based language model. Key content from the original text may have been omitted or may differ from facts.
