Revolut, one of Europe's largest digital banks, is signaling that a future public listing would likely happen in the United States rather than its home region. CEO Nik Storonsky told Bloomberg Television that the company would prefer a primary US listing as it focuses on expanding its American operations.
The comments come as Revolut pushes for a full US banking charter, a move that would allow it to offer a wider range of financial products, including credit cards and loans. The company already has preliminary approval for a national banking license, adding to licenses it holds in Britain and France.
Why the US matters
Revolut has grown rapidly in Europe by offering payment services, currency exchange, and a popular app that lets users manage money across borders. But the US market is a key growth target, and Storonsky said the company wants to deepen its presence there.
Securing a full banking charter would let Revolut move beyond payments and foreign exchange into lending, which can be far more profitable. Lending generates interest income and fees, whereas payment processing often relies on thin margins. For a fintech that has built its brand on convenience and low fees, adding credit products could open a significant new revenue stream.
The company already has a preliminary approval for a national banking license, which gives it a clearer path to launch those products. However, the process is still ongoing, and there is no guarantee of final approval or a timeline for when the charter might be granted.
What a US listing would mean
If Revolut does go public, a primary US listing would be a notable choice for a European company. Many international firms choose to list on US exchanges like the Nasdaq or the New York Stock Exchange because they offer deep liquidity, a large investor base, and high valuations for growth companies.
Revolut has been valued at $45 billion in private markets, making it one of the most valuable fintechs in the world. A US listing could give everyday investors a chance to own a piece of the company, but it also comes with risks. The fintech sector has seen volatile trading, and Revolut's path to profitability in lending is still unproven.
For investors, the news is a reminder that the line between traditional banking and tech is blurring. Revolut's push into lending could put it in direct competition with established US banks, which have deep experience in credit risk and regulatory compliance. But it also means the company could tap into a lucrative market if it executes well.
What it means for investors
For everyday investors, the key takeaway is that Revolut is positioning itself for a US listing, which could eventually offer a new way to invest in a major fintech. However, the timing is uncertain, and the company still needs to secure its banking charter before it can fully pursue its lending ambitions.
Investors should also consider the broader context. The fintech sector has been through a period of adjustment, with many companies seeing their valuations fall from pandemic-era highs. Revolut's success will depend on its ability to grow revenue while managing costs and regulatory hurdles.
In the meantime, the company's focus on the US is a sign of how important the American market is for global fintechs. As Revolut continues to expand, it will be worth watching whether it can translate its European success into a profitable US business.
For those interested in the broader trend of companies choosing US listings, the move echoes other firms that have opted for American exchanges to access deeper capital markets. While Revolut has not set a timeline for an IPO, its preference for a US listing is a clear signal of its ambitions.
