UK-based digital bank Revolut has abandoned its earlier intentions to purchase a U.S. financial institution. The company is now focusing on securing an independent banking charter directly from U.S. regulators, according to a recent report. This move underscores Revolut’s determination to penetrate the lucrative U.S. market, which it views as essential to its worldwide expansion goals.
The decision was highlighted in a FT report released on January 23, 2026, based on insights from individuals close to the discussions.
Revolut, valued at an impressive $75 billion and recognized as Europe’s leading fintech player by market worth, had previously explored buying an established U.S. lender as a shortcut to establishing operations.
However, the firm has opted for a “de novo” approach—applying for a fresh license from scratch.
This involves engaging with the Office of the Comptroller of the Currency (OCC), the federal agency responsible for overseeing national banks.
Sources indicate that Revolut has already initiated conversations with U.S. authorities regarding this pathway.
The timing appears strategic, aligning with the incoming Trump administration’s emphasis on reducing regulatory hurdles in the financial sector.
Analysts suggest this environment could expedite the approval process, allowing Revolut to bypass the complexities and potential delays associated with mergers and acquisitions.
By going solo, the company aims to build a tailored banking presence that aligns more closely with its innovative, app-based model.
Revolut’s journey in the U.S. has been marked by steady progress amid challenges.
Founded in 2015, the firm has grown rapidly, offering services like currency exchange, stock trading, and cryptocurrency dealings to over 45 million users globally.
Yet, entering the heavily regulated American banking landscape has proven tricky.
In September 2025, reports surfaced about Revolut’s interest in acquiring a U.S. bank to fast-track its entry, potentially enabling it to offer deposit accounts, loans, and other traditional banking products.
This would have complemented its existing U.S. offerings, such as debit cards and payment services, provided through partnerships.
The shift away from acquisitions reflects a broader reassessment of risks.
Buying an existing lender could involve inheriting legacy issues, regulatory scrutiny, or integration hurdles, especially in a post-pandemic economy still grappling with interest rate fluctuations and fintech competition.
Pursuing an OCC license, while demanding, reportedly offers greater control and flexibility.
Revolut emphasized in a statement that the U.S. remains pivotal to its growth blueprint, with establishing a full-fledged bank there as a core objective. The company noted it is “actively exploring all options,” including this independent route, to ensure sustainable expansion.
This development could have ripple effects across the fintech industry.
For Revolut, success in obtaining a license would position it alongside U.S. peers like Chime or SoFi, potentially unlocking billions in revenue from American consumers eager for digital-first banking.
It also signals confidence in a more permissive regulatory climate under the new administration, which has pledged to ease burdens on innovative firms.
However, the process isn’t without obstacles; de novo applications often require demonstrating robust capital reserves, risk management, and compliance frameworks.
Competitors and investors will watch closely. Revolut’s $75 billion valuation, achieved through a secondary share sale in late 2025, reflects high market expectations.
If the license push actually succeeds, then it could accelerate IPO plans or further funding rounds.
Conversely, these types of prolonged delays might force reliance on alliances, limiting autonomy.
Overall, this strategic realignment highlights digital bank Revolut‘s adaptability in navigating global regulations.
By prioritizing a standalone license, the Fintech firm is betting on its strengths in technology and user experience to carve out a niche in the world’s largest economy.
