Revolut drops U.S. bank merger plan to seek standalone license

2026-01-23 12:20:21

Source: CryptoNewsNet Original Title: Revolut drops U.S. bank merger plan to seek standalone license: FT Original Link: https://cryptonews.net/news/finance/32324707/ Revolut, a U.K. fintech that offers crypto trading, scrapped plans to buy a U.S. bank and will instead apply for a standalone banking license as it expands in the world’s largest financial market.

The London-based company had sought to fast-track its entry into the American banking system by acquiring a chartered U.S. lender, a move that would have allowed it to operate across all 50 states.

But the company, which last year reached a $75 billion valuation in a secondary share sale, concluded that an acquisition would be slower and more complicated than expected. A purchase would probably have required it to keep physical branches, undermining its digital-only model.

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