Revolut Drops US Bank Merger Plan, Will Pursue Standalone License — Could This Speed Up Its Crypto Expansion?

Fintech unicorn Crypto-friendly Revolut is dropping its planned acquisition of an American bank in favor of an independent banking license on its way to expand in the US market, the Financial Times reported on Friday. The report referred to individuals who are knowledgeable of the issue that Revolut has been negotiating with authorities in the U.S. regarding submitting an application to obtain a bank license via the Office of the Comptroller of the Currency (OCC). The shift comes as regulatory attitudes ...