Revolut’s licensing strategy has followed a clear sequence. It first focused on Europe, using its Lithuanian banking licence for EU passporting, securing a restricted UK banking licence, and committing €1.1 billion to France with a banking licence application planned. It then expanded across Asia Pacific, the Middle East, and Latin America, securing payment licences in India and the UAE, committing $400 million to Australia, and acquiring Cetelem Argentina from BNP Paribas.
Now the focus is the Americas. Revolut launched full banking operations in Mexico in January 2026, becoming the first independent digital bank to secure a Mexican banking licence through a direct application. Its US charter filing followed five weeks later.

The US charter environment has also changed. The OCC has processed 11 charter applications in 83 days, while PayPal, Mercury, and bunq have also pursued new US banking licences. A more permissive regulatory stance has created a clearer opening for well-capitalised fintechs and digital banks.

The timing matters because Revolut is no longer entering the US alone. Nubank received conditional OCC approval on January 29, just 121 days after filing, and brings 127 million customers, $2.9 billion in annual net income, and a cost-to-serve of $0.80 per customer. Revolut’s second US attempt is therefore not just about market entry. It is about whether one of Europe’s most ambitious digital banks can compete in the same arena as the next generation of global banking platforms.