- Revolut has become the first global fintech to be granted a full Australian Deposit-taking Institution (ADI) licence by the Australian Prudential Regulation Authority (APRA)
- Starting today, Revolut is officially launching as Revolut Bank Australia, expanding its financial services to cover everyday banking needs. Australia is the first country in the APAC region where Revolut will operate under a banking licence.
LONDON – 21 July 2026 – Revolut, the global financial leader with more than 75 million customers worldwide, today announced a pivotal milestone in its mission to build the world’s first truly global bank. The company has been granted an independent Authorised Deposit-taking Institution (ADI) licence by the Australian Prudential Regulation Authority (APRA), marking its official launch as a licensed bank in Australia and its first banking entity in the APAC region. The licence makes Revolut the first global fintech to secure a full unrestricted ADI licence.
The regulatory milestone is backed by Revolut’s commitment to invest nearly AUD$400 million into the local market over the next five years – spanning product innovation, growth and employer footprint – Revolut Bank Australia is uniquely positioned to bridge the gap between secure, regulated local banking and borderless global finance. This expansion adds Australia to Revolut’s established fully licensed banking footprint across the UK, EEA and Mexico.
By securing an independent banking licence in one of the world’s most highly regulated and competitive financial markets, Revolut cements its position as a pioneer in the global fintech landscape. The move enables the platform to transition its existing base of over 1 million Australian retail customers and thousands of businesses into a fully regulated banking ecosystem from Day One.
Nik Storonsky, Founder and CEO of Revolut, commented: “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.”
Matt Baxby, CEO at Revolut Bank Australia, commented: “Becoming a bank in Australia marks a defining moment in our journey, achieved through a relentless focus on delivering a better financial experience for Australians. It’s the launchpad for our next chapter, enabling us to expand into a broader suite of products, including savings and credit, to sit alongside the innovative services our customers already rely on every day. Our mission remains simple: to build the most seamless, secure, and customer-first banking experience for Australian consumers and businesses.”
Starting today, Revolut Bank Australia will begin rolling out its licensed banking products to customers located in Australia. For Revolut’s existing customer base, the transition to the licensed bank will be seamless and automated, requiring no action from users, and new customers in Australia signing up from today will be onboarded directly to Revolut Bank Australia. As customers of an APRA-authorised deposit-taking institution, they will benefit from the protections available under Australia’s banking regulatory framework, including the Financial Claims Scheme, which protects eligible deposits up to AUD$250,000 per account holder.
Revolut continues to scale its global footprint across more than 40 markets, operating as a licensed bank across the UK, Mexico, the EEA and now Australia. The company recently launched Revolut Bank in Mexico; its first fully licensed banking entity outside Europe, which already serves over 500,000 retail customers. Revolut is further accelerating its international growth with an active bank charter application in the US, newly secured regulatory licenses in the UAE, and a recent Organisation Authorisation in Peru.
See also:
Revolut Files U.S. Bank Charter Application, Names New U.S. CEO
