Revolut secures full UK banking licence as global ambitions shift into high gear

Revolut reached a major milestone after the Prudential Regulation Authority granted the fintech a full UK banking licence, concluding a regulatory process that began with its initial application in 2021. The approval allows Revolut to exit its mobilisation phase and launch a fully licensed entity, Revolut Bank UK Ltd. The company currently serves more than 70M customers across 40 countries, including 13M in the UK, and was recently valued at $75B following a secondary share sale in November 2025, reinforcing its position as Europe’s most valuable fintech platform.

With the approval now secured, UK deposits held at Revolut will be protected under the Financial Services Compensation Scheme up to £120,000, placing the company on the same regulatory footing as incumbent banks including Barclays, Lloyds Banking Group, and NatWest Group. The licence also unlocks a broader product suite in the UK, including lending, credit cards, and other balance sheet driven banking services, with new current accounts already beginning to roll out to customers.

The approval is also strategically important for Revolut’s global expansion ambitions. The company recently applied for a US banking licence, pivoting away from earlier plans to enter the market through the acquisition of an existing bank. Establishing a regulated banking presence in the United States would represent a major step in Revolut’s international strategy as it targets 100M users globally and continues expanding across North America, Latin America, and Asia.

With regulatory momentum building and financial performance continuing to accelerate, attention is increasingly turning to Revolut’s long term capital markets trajectory. Market discussions have also referenced the possibility of another secondary share sale that could value the company at $100B, with medium term IPO scenarios sometimes pointing toward valuations approaching $150B. At that scale, Revolut would rank among the largest financial institutions in the world, underscoring the scale of the company’s ambitions.

Sources: Press releases from Revolut