Revolut Targets US Banking Market and Favors American IPO Listing

Revolut plans to challenge established American financial institutions by expanding its banking services in the United States, where founder and CEO Nik Storonsky also favors a primary stock market listing if the company proceeds with an initial public offering. In interviews reported on October 8 and 9, 2026, Storonsky outlined plans to introduce credit cards and loans after securing full US banking authorization.

The London-based fintech, which has more than 80 million customers worldwide, received conditional approval for a US national bank charter in September. According to company announcements and reports from Bloomberg, the authorization process still requires additional regulatory approvals before Revolut can fully launch its American banking business.

Storonsky said the company intends to compete directly with JPMorgan Chase and American Express while developing additional financial products. A full banking charter would enable Revolut to access Federal Reserve payment systems directly, accept federally insured customer deposits of up to US$250,000 per account, and offer lending and credit card services.

Describing the company's ambitions for its American business, Storonsky said its planned services would compete with established financial institutions.

"Our offering will be at par with Amex or JPMorgan Chase," Storonsky said.

He also described the company's broader ambitions for the US market, emphasizing that expansion must deliver a substantial competitive position.

"We want to dominate," Storonsky said.

Revolut's potential US expansion follows its rapid growth across international markets. The company offers checking and savings accounts, international transfers, cryptocurrency and stock trading, bill payments, and budgeting tools. Its stated targets include reaching 100 million customers across 100 countries and generating US$100 billion in revenue.

Storonsky has also identified the United States as his preferred location for the company's primary stock listing because of its greater capital market liquidity. According to Bloomberg TV, he said the preference reflected the depth of the American investment market.

"That was always the target, given the deep liquidity of the US market," Storonsky said.

The company has previously considered a dual listing in the United States and the United Kingdom, potentially through the Nasdaq and London Stock Exchange. Reports published in October 2026 indicate that an IPO is unlikely before 2028, although the timing remains subject to market conditions.

In an interview cited by PYMNTS and attributed to French newspaper Les Echos, Storonsky explained why the company favors American markets for a potential offering.

"So we have the choice between selling in a small market with few buyers, or in a gigantic market with a huge number of buyers who will compete fiercely for our shares," Storonsky said.

Revolut is conducting a secondary share sale at a valuation of US$115 billion, according to The Business Times. That valuation places the fintech among Europe's most valuable private companies, reflecting its expansion from a business initially focused on lower foreign exchange fees.

The company has also expanded its banking authorization footprint. On September 15, 2026, Revolut announced that it had secured a banking license in Colombia, bringing its total number of full banking licenses worldwide to six, including those in the United Kingdom, France, Australia, Lithuania, and Mexico.

Beyond traditional financial services, Storonsky said Revolut is developing additional capabilities for AIR, its artificial intelligence-powered assistant. The company plans to test autonomous shopping functionality, known as agentic commerce, in December 2026, with an initial rollout likely to take place in the United Kingdom.

Storonsky has attributed Revolut's international growth strategy to its technology and pricing model, arguing that these advantages can support expansion across markets without relying primarily on acquisitions.

"Because of our innovation, because of our lower fees, we are forcing the banks also to slash their pricing, also to innovate," Storonsky said.