Revolut, the UK-based FinTech company, has made a significant strategic shift by dropping its plans to acquire a U.S. bank and instead focusing on obtaining a standalone banking license in the United States. This move marks a pivotal moment for Revolut as it aims to enhance its presence in the world’s largest retail finance market.
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According to reports from reputable sources such as the Financial Times, PYMNTS.com, and CoinTelegraph, Revolut’s decision to pursue a standalone banking license through the Office of the Comptroller of the Currency (OCC) comes after considering a potential bank acquisition that would have required additional commitments.
By opting for a standalone license, Revolut seeks to streamline its operations and gain more flexibility in scaling its lending and other core banking services in the highly competitive U.S. market. This strategic pivot underscores the company’s commitment to establishing a stronger foothold in the U.S. financial landscape.
In a similar vein, UBS, one of the world’s largest private banks, is reportedly exploring the possibility of offering crypto trading services to its ultra-high-net-worth clients. This move reflects a growing trend among traditional financial institutions to embrace digital assets and cater to the evolving needs of their clientele.
Meanwhile, Affirm, a prominent buy now, pay later lender, has recently applied for a banking charter to establish Affirm Bank, a Nevada-chartered industrial loan company. This initiative signals Affirm’s ambition to expand its financial services offerings and diversify its business model.
The convergence of these developments highlights the dynamic nature of the financial industry, where established players and innovative disruptors are constantly adapting to meet changing consumer demands and regulatory requirements. As FinTech companies like Revolut and Affirm navigate the complexities of the banking sector, traditional institutions like UBS are exploring new avenues to stay relevant in a digital-first world.
Overall, the decision by Revolut to forego a U.S. bank merger in favor of pursuing a standalone banking license signifies a strategic recalibration aimed at unlocking new growth opportunities and solidifying its position in the U.S. market. As the financial landscape continues to evolve, companies across the sector must remain agile and innovative to thrive in an increasingly competitive environment.
**Ticker Symbols:**
– Revolut
– UBS
– Affirm
**References:**
1. “Revolut drops U.S. bank merger plan to seek standalone license: FT” – [Coindesk](https://www.coindesk.com/business/2026/01/23/revolut-drops-u-s-bank-merger-plan-to-seek-standalone-license-ft)
2. “Revolut Drops US Bank Buyout Plan, Eyes Standalone OCC Charter” – [PYMNTS.com](https://www.pymnts.com/news/digital-banking/2026/revolut-drops-us-bank-buyout-plan-eyes-standalone-occ-charter/)
3. “Revolut drops takeover plans, seeks US banking license: Report” – [CoinTelegraph](https://cointelegraph.com/news/revolut-us-banking-license-global-expansion?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)
4. “UBS weighing crypto trading for private banking clients: Report” – [CoinTelegraph](https://cointelegraph.com/news/ubs-explores-crypto-trading-private-banking-clients?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound)
5. “Affirm applies for a banking charter” – [American Banker](https://www.americanbanker.com/payments/news/affirm-applies-for-banking-charter)
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