Published by Global Banking & Finance Review®
Posted on January 23, 2026
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleRevolut drops its US lender acquisition plans to focus on obtaining a US banking licence, as reported by the Financial Times.
Jan 23 (Reuters) - Britain's Revolut has scrapped plans to buy a U.S. lender and will instead apply for an American banking licence, Financial Times reported on Friday, citing people familiar with the matter.
Reuters could not immediately verify the report.
(Reporting by Preetika Parashuraman in Bengaluru; Editing by Sonia Cheema)
A banking license is a legal authorization granted by a regulatory authority that allows a financial institution to operate as a bank, providing services such as accepting deposits, making loans, and offering financial products.
Revolut is a financial technology company that offers banking services, including currency exchange, global spending, and cryptocurrency trading, through its mobile app and online platform.
An acquisition is the process by which one company purchases most or all of another company's shares to gain control of that company, often to expand its operations or market presence.
The US market is significant for banks due to its size, diversity, and the presence of numerous financial regulations, making it a key area for expansion and competitive growth for financial institutions.
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