Fintech unicorn Crypto-friendly Revolut is dropping its planned acquisition of an American bank in favor of an independent banking license on its way to expand in the US market, the Financial Times reported on Friday.

The report referred to individuals who are knowledgeable of the issue that Revolut has been negotiating with authorities in the U.S. regarding submitting an application to obtain a bank license via the Office of the Comptroller of the Currency (OCC).

The shift comes as regulatory attitudes in Washington soften toward fintechs and crypto firms.

Revolut Points to Softer U.S. Regulation as It Adjusts Expansion Plans

The UK-based fintech, valued at about $75 billion following a November share sale, had spent much of 2025 exploring the purchase of a nationally chartered US bank.

An acquisition would have allowed Revolut to bypass the lengthy process of applying for a banking charter from scratch and immediately gain the ability to lend across all 50 states.

As recently as July, executives believed this approach would be the quickest way to scale operations in the US.

This perception has already changed, as the company is currently gambling that the approval process can be completed faster in the Trump administration since the regulatory environment has become a lot lighter than it was in the past few years.

Revolut admitted that the US is the key to its long-term growth strategy and emphasized that it wanted to have a bank in the country but noted that no final decision has been made yet and plans may change.

Internally, the rethink is based on fears of the purchase of a community bank being problematic, such as the necessity to use physical branches and a more complicated approval procedure for any changes in ownership.

De novo license application, which has traditionally been slow, is now considered more predictable (and consistent with the Revolut digital-first model).

National Trust Charters Emerge as Key Path for Crypto and Fintech Firms

The relocation will put Revolut on a list of increasingly popular fintech and crypto-native companies that are pursuing national charters.

The OCC itself has received approximately 13 new bank and trust license applications in 2025 alone, which is close to the number of the past four years combined.

The regulator, in December, gave conditional approval to five crypto-based companies to become national trust banks, as well as BitGo, Fidelity Digital Assets, and Paxos, to turn current state licenses into national ones.

The US banking license would provide Revolut with greater access to the dollar clearing, custody, and compliance infrastructure, which could be valuable to its stablecoin and crypto offerings at a time when federal oversight is becoming the selling point to both institutional and retail customers.

Although national trust charters prohibit taking deposits or lending, they do provide regulatory visibility that a number of crypto companies have long been craving.

Revolut Strengthens Role as Bridge Between Banks and Crypto

Notably, Revolut has gradually developed its crypto service and established itself as a gateway between conventional finance and digital assets.

In October, the company eliminated all fees and spreads on the conversions of the US dollar into major stablecoins USDC and USDT.

The volume of stablecoin payments on the platform is projected to have increased by 156% in 2025 to approximately 10.5 billion due to daily payment transactions and not because of speculative trading.

Additionally, Revolut has also increased its global growth, gaining banking licenses in Colombia and Mexico, a crypto regulatory license in Cyprus, and more than 1 billion investments in France by 2028.

It is also said to consider a dual listing in London and New York, the move that would further establish its position as one of the most valuable fintechs in the world.

The post Revolut Drops US Bank Merger Plan, Will Pursue Standalone License — Could This Speed Up Its Crypto Expansion? appeared first on Cryptonews.

Revolut Pay joins Google’s Agent Payments Protocol (AP2) to support agent-led transactions, extending one-tap checkout across the UK and EEA

The post Revolut Joins Google AP2 to Enable AI-Led Checkout Across Europe appeared first on TechRepublic.

Revolut Pay joins Google’s Agent Payments Protocol (AP2) to support agent-led transactions, extending one-tap checkout across the UK and EEA

The post Revolut Joins Google AP2 to Enable AI-Led Checkout Across Europe appeared first on TechRepublic.

Revolut has applied for a full banking license in Peru as it steps up its expansion across Latin America, according to a report by Bloomberg.

If approved, the move would allow the London-based digital bank to operate as a fully regulated lender in the country, adding Peru to a growing regional footprint that already includes Mexico, Colombia, Argentina and Brazil.

The company said the license would enable it to roll out localized banking products and compete directly with Peru’s incumbent banks rather than newer fintech challengers.

Revolut Targets Peru’s Concentrated Banking Market With Remittance Push

Peru’s financial system is highly concentrated, with the four largest banks accounting for roughly 82% of total loans, based on data from the national banking regulator SBS.

Revolut Peru CEO Julien Labrot said the company sees an opportunity to increase competition and improve access to financial services, particularly for underserved users.

Remittances are expected to play a central role in the strategy, with Labrot noting that around one million people in Peru rely on money sent from abroad.

According to the World Bank, personal remittances to Peru reached $4.93 billion in 2024.

The license application comes as Revolut continues to scale its broader platform, including its crypto and digital asset services.

Founded in 2015, the neobank reported a record year in April 2025, with 2024 net profit rising 130% to 790 million pounds ($1.06 billion), driven by customer growth and a rebound in cryptocurrency trading.

In October 2025, Revolut introduced 1:1 U.S. dollar conversions for stablecoins, allowing users to exchange dollars directly into USDC and USDT.

Revolut’s push reflects a wider trend among fintech firms in Latin America moving deeper into crypto and stablecoin-based services.

Mercado Libre launched a dollar-pegged stablecoin in Brazil in 2024, while Nubank is developing stablecoin payments linked to its credit products.

A report from Chainalysis shows the region generated nearly $1.5 trillion in crypto transaction volume between July 2022 and June 2025, showing why global players like Revolut are accelerating their Latin America ambitions.

Stablecoin Payments on Revolut Surge as Everyday Use Gains Momentum

As reported, stablecoin usage on Revolut accelerated sharply in 2025, with payment volumes estimated to have jumped 156% year over year to about $10.5 billion.

While Revolut has not published official figures, onchain data suggests stablecoins nearly doubled their share of total payments on the platform compared with 2024, pointing to growing adoption beyond trading and transfers.

Blockchain data compiled via Dune Analytics shows that growth was steady throughout the year rather than driven by short-term spikes.

Much of the activity came from routine transactions, with transfers between $100 and $500 accounting for roughly 30% to 40% of stablecoin payments, indicating that users are increasingly relying on digital dollars for everyday spending.

The post Revolut Applies for Full Banking License in Peru in Latin America Push appeared first on Cryptonews.