According to informed sources, British fintech startup Revolut has abandoned its plan to acquire a US financial institution and is instead applying to obtain a US banking license.
The sources indicated that the company has held discussions with US officials, aiming to apply for a license through the Office of the Comptroller of the Currency (OCC) in hopes of accelerating the approval process under the Trump administration's relaxed regulatory policies.
Revolut responded by stating that it is still actively exploring all possible options, including applying for a new banking license in the United States.
Revolut said in a statement, "The US market is crucial to Revolut's global development strategy, and our long-term plan is to establish a bank in the United States."
Valued at $75 billion and widely recognized as Europe's most valuable fintech company, Revolut stated last September that it was exploring the acquisition of a US bank to accelerate its global expansion and had been considering launching credit card services in its home market.
