Revolut, the global financial services platform serving over 75 million customers, has been awarded a full Authorised Deposit-taking Institution (ADI) licence in Australia, becoming the first international FinTech to hold an unrestricted licence of this kind.
The approval, granted by the Australian Prudential Regulation Authority (APRA), sees the company launch Revolut Bank Australia with immediate effect. It is the firm’s first banking operation anywhere in the APAC region, joining its fully licensed banking presence in the UK, EEA and Mexico.
Underpinning the launch is a pledge to inject close to AUD$400m into the Australian market over the coming five years, with the funds directed towards product development, growth initiatives and expanding its local workforce. The company said the new entity is positioned to combine regulated domestic banking with borderless international finance.
The licence allows Revolut to move its existing Australian base of more than one million retail users and thousands of business clients into a fully regulated banking framework from the outset.
Existing users will be migrated automatically with no action required, while anyone signing up in Australia from now on will be onboarded straight into the new bank. Customers will gain the safeguards of Australia’s banking regime, including the Financial Claims Scheme, which covers eligible deposits of up to AUD$250,000 per account holder.
Revolut founder and CEO Nik Storonsky said, “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.”
Revolut Bank Australia CEO Matt Baxby said, “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.”
Copyright © 2026 FinTech Global
