Revolut Considers U.S. Bank Acquisition to Accelerate American Expansion

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British digital banking firm Revolut is reportedly exploring the acquisition of a U.S.-based bank as a strategy to secure a national banking charter more efficiently. The potential move is aimed at streamlining its entry into the American financial market, which is known for its rigorous and often time-consuming regulatory approval process. By purchasing a pre-chartered bank, Revolut could bypass the lengthy licensing procedures and begin lending operations in the U.S. much sooner.

According to a report by the Financial Times, Revolut is considering the acquisition of a nationally chartered institution that already possesses a banking licence. This route would give the company a faster track to U.S. market access compared to applying for a licence independently, an approach that can span several years. However, the firm is reportedly still evaluating whether to pursue this acquisition path or to move forward with a direct application for its own U.S. banking charter.

Revolut, which has grown into the United Kingdom’s largest financial technology (fintech) company, now serves over 60 million users globally. While the company already holds banking licences in Lithuania, allowing it to operate across the European Union, and in Mexico, it has yet to obtain full approval in the U.K., where regulatory restrictions currently limit its lending capacity. Nonetheless, its ambitions remain focused on establishing a solid footprint in the U.S., a market with deep capital reserves and a vast customer base.

U.S. President Donald Trump’s deregulatory initiatives have led to industry expectations that the approval process for banking charters may be more favorable under certain regulatory interpretations. The Financial Times notes that the Office of the Comptroller of the Currency (OCC), the federal agency responsible for issuing national bank charters, could potentially fast-track approvals under a deregulated framework. Revolut, however, has not confirmed whether it will rely on this path and has declined to comment publicly on the matter.

In parallel with its U.S. ambitions, Revolut continues to expand into new international markets. The company recently completed the acquisition of Cetelem, an Argentine bank previously owned by BNP Paribas, as part of its push into Latin America. It has also considered acquiring a bank in the Middle East to facilitate operations in that region. These efforts are part of a larger strategy to scale globally while raising fresh capital. According to the Financial Times, Revolut is currently engaged in discussions to raise approximately $1 billion, which would value the company at around $65 billion.

Beyond traditional banking services, Revolut has shown continued interest in offering digital asset products. Although it suspended cryptocurrency operations in the United States in October 2023 due to regulatory uncertainty, it has recently resumed limited crypto trading in Hungary following a change in domestic law that requires all crypto service providers to hold a local licence. A U.S. banking licence could potentially open the door for the company to expand its crypto offerings domestically, provided it receives appropriate regulatory clearance.

A successful entry into the U.S. banking system would mark a significant milestone for Revolut, potentially positioning it as a strong competitor to American fintech firms. With its growing global presence and adaptable approach to regulation and licensing, the company appears committed to scaling its services across key financial markets while navigating the complex regulatory environments that define them.