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Revolut scraps plans to buy US lender in favour of push for standalone licence, FT reports

Published by Global Banking & Finance Review

Posted on January 23, 2026

1 min read

· Last updated: January 23, 2026

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Revolut scraps plans to buy US lender in favour of push for standalone licence, FT reports
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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

Revolut Abandons US Lender Acquisition for Banking License Pursuit

Revolut's Strategic Shift in the US Market

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.

Details of the Abandoned Acquisition

Reuters could not immediately verify the report.

Implications for Revolut's Future

(Reporting by Preetika Parashuraman in Bengaluru; Editing by Sonia Cheema)

Key Takeaways

  • Revolut abandons plans to acquire a US lender.
  • The company will apply for a US banking licence instead.
  • This strategic shift was reported by Financial Times.
  • Revolut aims to strengthen its US market presence.
  • The report was not immediately verified by Reuters.

Frequently Asked Questions

What is a banking license?
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.
What is Revolut?
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.
What is an acquisition?
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.
What is the significance of the US market for banks?
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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