Revolut Weighs Dual New York and London Listing

Founded in 2015, Revolut has grown into Europe’s most valuable financial technology company. A secondary share sale gives employees and early investors liquidity before a public listing while providing a fresh market benchmark for the privately held business. Its regulatory push has also accelerated: the Prudential Regulation Authority cleared Revolut to launch as a fully licensed UK bank on March 11, and the company is expanding its regulated presence in the United States and European Union.

Revolut began the employee share sale on July 22 at $2,017 a share, valuing the company at $115 billion. That represents an increase of more than 50% from the $75 billion valuation secured in a November 2025 secondary sale; reports in June said it was targeting at least $750 million of stock sales. Revolut applied to the OCC and FDIC for a U.S. national bank charter on March 5, after securing EU authorization under MiCA for crypto-asset services in 2025.

London-based Revolut is pursuing a US national bank charter as part of its ambition to build a global digital banking platform. A charter overseen by the Office of the Comptroller of the Currency would reduce its reliance on partner banks, potentially provide direct access to federal payment infrastructure and support lending alongside FDIC-insured deposit accounts. The move is central to Revolut’s plan to compete more directly with established US banks.

Revolut has cleared a major regulatory hurdle by securing conditional OCC approval for its proposed US national bank, but it has not yet received final authority to open. The approval places limits on four products and requires the fintech to satisfy conditions covering capital, governance and operating readiness. Revolut must also obtain relevant approval from the Federal Deposit Insurance Corporation before launching insured banking services in the United States.