Revolut, the UK-based digital banking giant, is exploring the acquisition of a licensed U.S. bank as a way to accelerate its entry into the American market and strengthen its savings products offering.
According to Bloomberg, the company has engaged investment banks to evaluate potential takeover opportunities, though it is still weighing whether to pursue an acquisition or apply directly for its own U.S. banking license. PYMNTS also reports that advisers could be brought in to guide the process.
This U.S. push is part of Revolut’s broader global expansion strategy. In 2024, the firm secured a restricted banking license in the U.K., while earlier this year it acquired Banco Cetelem in Argentina, reinforcing its presence in Latin America. The Financial Times highlights that Revolut’s U.S. move follows ongoing delays in securing a full U.K. banking license, which has been under review since 2021 (FT).
Why It Matters
- Speed to Market: Buying an existing U.S. bank could allow Revolut to bypass the lengthy charter process and immediately offer lending and deposit services.
- Strategic Alternatives: The firm is keeping both acquisition and licensing options open to optimize its regulatory access.
- Global Expansion: The move underscores Revolut’s ambition to establish itself as a full-service global bank, complementing its recent acquisitions and licenses abroad.
Quick Overview
| Aspect | Insight |
|---|---|
| Acquisition Option | Buying a U.S.-chartered bank to secure regulatory access faster. |
| Alternate Path | Applying directly for a U.S. banking license remains under consideration. |
| Global Strategy | Complements licensing efforts and recent acquisitions in the U.K. and Argentina. |
