Revolut has officially rolled out Revolut Bank Australia after securing an unrestricted Authorised Deposit-taking Institution (ADI) licence from the Australian Prudential Regulation Authority (APRA).
Representing the fintech giant’s first local banking licence in the Asia-Pacific (APAC) region, the milestone brings the company significantly closer to its long-term strategic objective of establishing the world’s first truly global bank.
Commenting on the achievement, Revolut Founder and CEO Nik Storonsky highlighted the rigorous nature of the milestone:
“Obtaining this licence in a market as highly regulated and competitive as Australia is a testament to the strength of our business model and the relentless dedication of our teams.”
Storonsky noted that securing the unrestricted ADI licence has been a primary strategic priority for the organization, expressing his gratitude and congratulations to everyone involved in delivering the landmark launch across the Australian market.
