Revolut, a crypto-friendly fintech unicorn, plans to apply for a banking license in the US instead of acquiring a local lender to expand globally. The company committed $13 billion for international growth over five years and was valued at $75 billion after a recent share sale.

Revolut’s US CEO expressed ambition to be a bank in the US, aiming for rapid approval amid a more crypto-friendly regulatory environment. The company is evaluating pathways and hopes for a streamlined process to scale in the market.

Revolut has yet to fully roll out as a bank in the UK, with becoming a UK lender being a top priority. While it received a restricted banking license in 2024, the company is working towards offering all services to UK customers. Additionally, Revolut has been securing regulatory approvals in other markets for global expansion.

Read more at Cointelegraph: Revolut Seeks US Banking License Amid Global Push: Report