Revolut has received regulatory approval from the Financial Conduct Authority (FCA) to expand its services, allowing the fintech giant to offer private wealth management and leveraged products in the UK. The approval, granted on May 14, marks a significant milestone as Revolut aims to become a full-service bank.
The FCA granted Revolut Trading a Variation of Permissions, enabling the company to manage client investment portfolios and deal as principal for the first time. This paves the way for discretionary portfolio management, advisory services, and leveraged investment products targeting retail, professional, and high-net-worth clients.
Victoria Laffey, head of operations at Revolut Trading, described the new permissions as a crucial element that allows the company to consolidate investment, advisory, and portfolio management services under one platform, making them more accessible to a broader audience.
Revolut plans to launch a private banking unit in the UK later this summer, with a minimum deposit requirement of £500,000. This move positions Revolut between traditional private banks like Coutts, which recently raised its threshold to £3 million, and the mass affluent segment that remains underserved.
The FCA approval follows Revolut’s receipt of a full UK banking licence from the Prudential Regulation Authority in March 2026, after a three-year application process. This licence transformed Revolut from an electronic money institution into a fully regulated bank, providing the foundation for wealth management and lending expansion.
Revolut’s wealth division has become a major revenue contributor, with wealth revenues climbing 31% to $876 million in 2025. Crypto activity has been a significant driver, with over 10 million customers holding or trading crypto on the platform. The company also secured a MiCA crypto licence through Cyprus in October 2025, granting passportable access to 30 European Economic Area markets for regulated crypto services.
Additionally, Revolut has applied for a US national banking charter, targeting access to American payment rails and credit products ahead of a planned 2028 IPO. The FCA permissions are part of Revolut’s broader regulatory expansion, strengthening its position in the global financial landscape.