The fintech has additionally tapped a former Visa and Capital One government to steer its US operations.
UK fintech large Revolut has utilized for a US banking licence. If profitable, Revolut would give you the chance supply companies resembling private loans and bank cards to its US-based clients.
The transfer will give Revolut “the direct management wanted to innovate quicker and ship the Revolut expertise to tens of millions extra Individuals as we transfer towards our purpose of 100m clients”, mentioned its founder and CEO Nik Storonsky.
“Submitting for a nationwide financial institution constitution is a significant milestone towards our imaginative and prescient of constructing the world’s first really international banking platform.”
The corporate was valued at $75bn final November after a significant share sale. It had a profitable 2024, which noticed income rising 72pc to $4bn and revenue earlier than tax growing 149pc to $1.4bn. The corporate mentioned this progress has continued via 2025 with round $1bn in annualised income.
The US nationwide financial institution constitution will permit Revolut to function throughout all 50 US states, join on to companies resembling Fedwire and ACH, and supply clients insured deposits.
The corporate has introduced Cetin Duransoy as its US CEO. Duransoy beforehand served because the US CEO of fintech market Raisin, previous to which he held senior management banking and funds roles at Capital One and Visa.
Revolut, one of many world’s greatest fintechs, at present operates throughout 40 markets globally, servicing round 70m clients.
The corporate lately expanded operations to Mexico, opened a brand new international headquarters in London and secured a funds licence in India. It hopes that this continued growth may help it attain 100m clients by mid-2027.
It’s also making an attempt to capitalise on agentic purchasing with a Google partnership to make Revolut Pay appropriate throughout the rising panorama in Europe.
Don’t miss out on the information it’s good to succeed. Join the Day by day Temporary, Silicon Republic’s digest of need-to-know sci-tech information.
Elevate your perspective with NextTech Information, the place innovation meets perception.
Uncover the most recent breakthroughs, get unique updates, and join with a world community of future-focused thinkers.
Unlock tomorrow’s tendencies as we speak: learn extra, subscribe to our publication, and change into a part of the NextTech neighborhood at NextTech-news.com
