Revolut Shifts U.S. Strategy, Drops Merger Plans to Pursue Standalone Banking Licence
Revolut, one of Europe’s most valuable financial technology companies, has announced a strategic change in its approach to entering the United States market.
The company has abandoned plans to acquire a U.S. bank and will instead seek a standalone U.S. banking licence, according to a report from the Financial Times. Under its new strategy, Revolut plans to apply directly for a de novo banking charter with the U.S. Office of the Comptroller of the Currency (OCC), aiming to establish a fully licensed bank on American soil.
Revolut had previously explored purchasing an existing U.S. lender to expedite market access across all 50 states. However, it concluded that an acquisition would be more complex and slower than a direct licence application. The shift reflects the firm’s confidence in the current regulatory environment and its long-term commitment to expanding in the United States.
“The U.S. market remains critical to Revolut’s global growth strategy,” the company said in response to the report, emphasizing its ongoing efforts to evaluate all possible paths to full banking operations.
