Revolut is officially launching a licensed bank in Australia after obtaining an authorized deposit-taking institution (ADI) license from the Australian Prudential Regulation Authority (APRA).
Marking Revolut’s first banking entity in the Asia-Pacific region, the Australian unit joins its existing banking operations across the UK, Europe, and Mexico. The global fintech confirmed that current Australian users will not need to take any action during the transition, while new users registering from July 21, 2026, onward will automatically be onboarded to Revolut Bank Australia. The platform currently serves more than one million retail consumers and thousands of corporate clients nationwide.
Revolut Founder and CEO Nik Storonsky highlighted that securing an Australian banking license was a key long-term strategic goal for the company. Meanwhile, Revolut Bank Australia CEO Matt Baxby noted that full banking status will serve as a springboard for product expansion, allowing the company to introduce credit facilities and interest-bearing savings accounts alongside its established suite of everyday financial tools.
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