ECB restricts Revolut from launching new products due to violations – FT
In the summer of 2025, the European Central Bank temporarily banned the European division of fintech company Revolut from launching new financial products until it addressed identified shortcomings in its approval procedures. This was reported by the Financial Times.
According to the publication, the restrictions also affected the company’s operations outside the EU: it was prohibited from acquiring new customers and conducting any acquisitions. The decision was communicated to Revolut’s board of directors in July 2025, but was not publicly announced.
The regulator’s intervention was prompted by the company’s internal corporate culture. Revolut CEO Mykola Storonskyi described it as a “missile-like” approach, where employees develop and launch products with minimal internal oversight. The ECB required an independent audit of risk management, compliance, and legal support functions, as well as a review of HR procedures and the decision-making system for new products.
In December 2025, Storonsky gave an in-depth interview in which he explained the company’s approaches to hiring, compliance, and interaction with regulators.
At the same time, the Financial Times notes that it is currently unknown whether the ECB’s restrictions have been fully lifted. Despite this, Revolut has already launched a number of new products in Europe, including mortgage services, teen accounts, and physical branches.
Separately, in 2026, the Italian regulator fined the company €11.5 million for misleading customers regarding the terms of investment products, according to the FT article. Currently, according to Bloomberg, Revolut is preparing for a new round of investment at a valuation of approximately $115 billion, which could be one of the highest valuations in the global fintech sector.
Prior to this, Revolut applied for a banking license in the U.S. and appointed a new CEO.
Earlier, the British fintech company Revolut took a significant step toward global expansion by obtaining its first license in Latin America. The company’s services became available to residents of Mexico, as noted by Reuters. This is significant because Revolut has, for the first time, expanded beyond the European banking sector, targeting fast-growing markets.
Revolut has also applied for a banking license in Peru, a country with a population of about 34 million, where approximately 45% of the adult population still does not use traditional banking services.
