Revolut granted its 1st Asia Pacific banking license in Australia
Revolut, the U.K.-based fintech app you might know from travel cards and easy money transfers, just scored its first-ever banking license in the Asia-Pacific region, right in Australia.
Thanks to approval from regulators, Revolut can now offer full-fledged banking services in Australia, including secure deposits up to A$250,000 (about $175,000) per person.
Revolut commits nearly A$400 million to Australia
Since launching in 2020, Revolut has picked up more than a million Australian users and rolled out more than 30 features across payments, investing, loans, and insurance.
Starting Tuesday, July 21, 2026, they will unlock savings accounts and credit cards too.
CEO Nik Storonsky called this a "another significant step" toward making Revolut a global bank.
To back it all up, the company is investing nearly A$400 million into its Australian growth over the next five years, and is eyeing even bigger moves worldwide.