Revolut Plans US Bank Acquisition, $13B Global Expansion

Revolut, a leading British fintech firm valued at $75 billion, is aggressively expanding its global footprint with a focus on obtaining banking licenses in key markets. The company has hired key personnel in Turkey and is pursuing a banking license there as part of its mission to reach 100 million users globally by 2026. Revolut has also opened new headquarters in London's Canary Wharf and Paris, while actively exploring the acquisition of a U.S. bank or applying for its own U.S. banking license to enhance its presence in the American market. Despite holding banking licenses in the European Union and Mexico, Revolut is awaiting its final UK banking license, which would enable it to offer credit products and expand its services domestically. The fintech plans to invest $13 billion globally over the next five years, including $4 billion in the UK, reflecting its commitment to establishing itself as a major banking player and challenging traditional financial institutions. These moves underscore Revolut's strategy to become a fully licensed bank in every market it operates, aiming to transform global banking with its digital-first approach.