Revolut Mulls Buying US Bank to Fast-Track American Licence: Report

Key Points

1. Revolut is exploring the purchase of a US bank to bypass the lengthy process of obtaining a banking license, as reported by the Financial Times.

2. The fintech, with 60 million customers globally, aims to access the US market more efficiently, potentially benefiting from Trump's deregulatory agenda.

3. Revolut is in talks for a $1 billion deal to raise capital, valuing the company at $65 billion, part of which will fund global expansion, including potential acquisitions in the Middle East.

4. The company recently acquired Argentine bank Cetelem and holds banking licenses in Lithuania, enabling operations in the UK and EEA, with resumed limited crypto services in Hungary.

5. A US banking license could facilitate Revolut's expansion into digital asset services, though it suspended crypto operations in the US in 2023 due to regulatory challenges.