UK Fintech Unicorn Revolut Adjusts US Expansion Strategy, Abandoning Bank Mergers and Acquisitions in Favor of Direct Licensing Applications

Source: DigitalToday Original Title: Revolut withdraws US bank acquisition plan… Pursues direct license acquisition Original Link:

Crypto-friendly UK fintech unicorn Revolut has changed its US expansion plans. The company initially planned to accelerate its global expansion by acquiring a US bank in September 2025, but has now decided to abandon that plan and instead apply directly for a bank license from the Office of the Comptroller of the Currency (OCC).

This strategic shift indicates that Revolut believes applying directly for a license will be faster and more efficient than acquiring an existing bank. An internal source revealed that acquiring regional banks would entail obligations to operate physical branches, which is a key reason for the company’s change in strategy.

Revolut has established its position in the fintech sector. In November 2025, the company achieved a valuation of $75 billion through equity sales, making it one of the most valuable fintech companies globally. CEO Sid Jajodia previously stated that obtaining a banking license in the US is a goal for the company, and they hope to secure the license as soon as possible to expand market share.

Revolut’s international expansion momentum is strong:

• Obtained a restricted banking license from the UK Prudential Regulation Authority (PRA) in 2024
• Recently acquired banking licenses in Colombia and Mexico
• In October 2025, received a crypto asset market regulation (MiCA) license from the Cyprus Securities and Exchange Commission

If Revolut successfully obtains a US banking license, it will become a significant case of a fintech company transitioning into a traditional bank, marking a new stage in the industry’s development.