Revolut acquires full UK banking license after years-long wait

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Revolut has received a full U.K. banking license, enabling it to operate as a fully licensed bank for retail and business customers. The approval removes prior mobilisation restrictions from July 2024 that capped total customer deposits at £50,000 and lets Revolut offer new products including lending. Revolut, which reached a $75 billion valuation in 2025 and serves about 70 million customers, says the licence is central to its growth and global bank ambitions. The company has also applied for a U.S. banking licence and plans to launch in 30 new markets by 2030.

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