Revolut to Get Banking License in Ukraine

Hey Digital Banking Fanatic!

Revolut is deepening its footprint in Ukraine. After earlier this week announcement they're enabling instant, fee-free P2P transfers for Ukrainians, the startup has now confirmed plans to secure a local banking license. With this approval, users could open Hryvnia bank accounts and access major financial services, including loans for individuals and businesses.

Dmytro Strelchuk, Revolut's Head of New Markets, revealed that Revolut already onboarded over 450,000 Ukrainian residents, with 100,000 using the app monthly. While the licensing timeline remains undisclosed, the process is expected to conclude by the end of 2025.

Meanwhile, Strelchuk also disclosed that Revolut is also expanding into 3 new geographies: India, Brazil, and Mexico.

Have a great weekend and I’ll be back on Monday!

Cheers,

Marcel

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