Regulatory Milestone and Australian Market Entry
Revolut has become the first global fintech to be granted a full independent Authorised Deposit-taking Institution (ADI) licence by the Australian Prudential Regulation Authority (APRA), launching officially as Revolut Bank Australia on 21 July 2026. This move establishes Australia as the first country in the Asia-Pacific (APAC) region where the company operates under a banking licence.
Regulatory Alignment and Consumer Protections
The regulatory approval transitions Revolut’s existing base of over 1 million Australian retail customers and thousands of businesses into a fully regulated banking ecosystem. As customers of an APRA-authorised institution, account holders gain access to protections under Australia’s banking regulatory framework, including the Financial Claims Scheme covering eligible deposits up to AUD$250,000 per account holder.
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, added:
“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.”
Global Expansion Strategy
The Australian launch adds to Revolut’s established licensed banking footprint across the United Kingdom, European Economic Area (EEA), and Mexico. The fintech currently operates across more than 40 markets globally, supported by recent international milestones including the launch of Revolut Bank in Mexico, an active US bank charter application, secured licences in the UAE, and an Organisation Authorisation in Peru.
