Revolut, which serves more than 75 million customers worldwide, has been granted an independent Authorised Deposit-taking Institution (ADI) licence by the Australian Prudential Regulation Authority (APRA). The approval marks the company's first banking entity in the APAC region and its official transition to operating as a licensed bank in Australia. According to the company, this makes it the first global fintech to hold a full, unrestricted ADI licence.
Licence brings Australia into Revolut's banking network
The ADI licence adds Australia to Revolut's existing roster of fully licensed banking markets, which already includes the UK, the EEA and Mexico. The company entered Mexico earlier in 2026 with its first fully licensed banking entity outside Europe, a unit that now serves more than 500,000 retail customers. Revolut said it is also pursuing further regulatory approvals internationally, including an active bank charter application in the US, newly secured licences in the UAE, and an Organisation Authorisation obtained in Peru.
In Australia, Revolut said it plans to invest close to USD 260 million (approximately AUD 400 million) in the local market over the next five years, directed towards product development, growth initiatives and its local workforce.
Customer transition and deposit protection
From 21 July 2026, Revolut Bank Australia has begun rolling out licensed banking products to customers in the country. The company said the transition for its existing Australian base, which numbers over one million retail customers and thousands of businesses, will be automated and will not require action from users. New customers signing up in Australia from this date will be onboarded directly to Revolut Bank Australia.
As customers of an APRA-authorised deposit-taking institution, account holders will fall under Australia's Financial Claims Scheme, which protects eligible deposits up to USD 162,500 (AUD 250,000) per account holder, according to the company.
A Revolut official said the Australian licence represents a long-standing strategic objective and described the approval as reflective of the company's broader ambition to operate as a global bank. A Revolut Bank Australia executive said the licence would allow the company to expand its product range in the market to include savings and credit offerings alongside its existing services.
Wider context
The Australian approval extends Revolut's presence to more than 40 markets globally. The company has positioned the move as part of a broader strategy to combine locally regulated banking services with cross-border financial products, a model it has also pursued in its recent Mexican launch. Further licensing activity in the US, UAE and Peru points to continued expansion of Revolut's banking footprint beyond its established European base.
