Global: Revolut Secures Australian Banking Licence

Global fintech company Revolut has received a full Authorised Deposit-taking Institution (ADI) licence from the Australian Prudential Regulation Authority (APRA), enabling it to operate as a licensed bank in Australia and marking the establishment of its first banking entity in the Asia-Pacific (APAC) region.

The regulatory approval represents a major milestone in the company’s international expansion strategy and is supported by Revolut’s commitment to invest nearly AUD$400 million in Australia over the next five years. The planned investment will focus on product development, business growth, and expanding the company’s local workforce.

Banking Services Set to Expand

With the new banking licence, Revolut will be able to broaden its range of financial products for its more than one million retail customers in Australia.

The approval paves the way for the fintech to introduce additional banking services, including savings accounts and credit products, complementing its existing digital financial offerings.

Commenting on the development, Revolut Founder and Chief Executive Officer, Nik Storonsky, described the launch of the Australian bank as a significant strategic achievement.

“Launching our Australian bank has been a long-term strategic priority and marks another significant step in our mission to build the world’s first truly global bank. Securing this licence in a market as highly regulated and competitive as Australia is a testament to our business model and our teams,” he said.

Strengthening Global Banking Footprint

The Australian licence further strengthens Revolut’s global banking network as the company continues to expand across more than 40 international markets.

Revolut now operates as a licensed bank in the United Kingdom, European Economic Area (EEA), Mexico, and Australia, reflecting its broader ambition to build a globally connected digital banking platform.

The fintech recently launched full banking operations in Mexico through its first fully licensed banking entity outside Europe, serving more than 500,000 retail customers in the country.

Beyond Australia and Mexico, Revolut is also advancing its international expansion through an active application for a U.S. banking charter, recently secured regulatory licences in the United Arab Emirates, and regulatory authorisation supporting its planned banking operations in Peru.

The latest regulatory approval reinforces Revolut’s strategy of expanding licensed banking operations across key global markets while enhancing its digital banking capabilities and broadening access to financial services for customers worldwide.