Crypto-friendly fintech Revolut has shelved plans to acquire a US bank, opting instead to pursue a standalone banking licence as part of a revised strategy to expand in the American market, the Financial Times reported on Friday.
The London-based firm has been in discussions with US regulators about submitting an application for a national bank charter through the Office of the Comptroller of the Currency, according to people familiar with the matter. The move marks a shift away from earlier plans to enter the market via acquisition.
Revolut had spent much of 2025 exploring the purchase of a nationally chartered US bank, a route that would have allowed it to bypass the lengthy approval process and begin lending across all 50 states almost immediately. As recently as July, executives viewed a takeover as the fastest way to scale its US operations.
That calculation has now changed. The company is betting that a softer regulatory stance in Washington, particularly under the Trump administration, could allow a licence application to progress more quickly than previously expected.
Regulatory attitudes toward fintech and crypto-related firms have eased compared with recent years, encouraging companies like Revolut to reconsider direct applications.
Valued at around $75 billion following a share sale in November, Revolut has repeatedly described the US as central to its long-term growth ambitions. While the company has reiterated its intention to establish a full banking presence in the country, it has also cautioned that no final decision has been made and that its plans could still evolve.
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