The ECB secretly restricted the operations of fintech company Revolut due to its rapid product launches
The European Central Bank imposed strict restrictions on Revolut in July 2025 due to concerns about the company launching products too quickly without analyzing their impact on capital.
The regulator imposed a ban on launching new products in the European market, as well as a global moratorium on customer acquisition and mergers and acquisitions while the company prepares for an IPO valued at $75 billion.
To have the restrictions lifted, the company is required to address serious deficiencies in risk management, review the size and qualifications of its approval teams, and conduct an independent audit of its legal and compliance departments.
The conflict marked the first instance in which a regulator publicly demonstrated—through a leak—its willingness to curb the growth of large fintech companies in the interest of financial system stability, viewing the logic of rapid expansion as incompatible with systemic importance. Revolut is currently raising funds again, but this time with a valuation of $115 billion.
This hidden conflict came to light through an investigation by the Financial Times.
Prior to this, Revolut had 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 reported by Reuters. This is significant because it marks Revolut’s first foray 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.
