(11 March 2026 – United Kingdom) Revolut has obtained a full UK banking licence, concluding a four-year regulatory process that included more than 18 months in the mobilisation phase following preliminary approval last year.
The licence allows the fintech to formally launch banking services in its largest market, enabling it to offer deposit accounts and extend lending to both retail and business customers. The move builds on an existing UK customer base of around 13 million and accompanies plans to invest £3bn in the country while creating roughly 1,000 high-skilled roles.
Regulatory approval followed extensive scrutiny of the firm’s governance and compliance capabilities as it rapidly expanded operations internationally.
Revolut CEO Nik Storonsky said: “Launching our UK bank has been a long-term strategic priority for Revolut, and marks a significant moment in our journey. The UK is our home market and central to our growth.”
The company is now turning its attention to the United States, having recently submitted an application for a banking charter with the Office of the Comptroller of the Currency as it seeks to expand further into the market.