News
Revolut Wins Full Australian Banking Licence
The Australian Prudential Regulation Authority granted Revolut a full Authorised Deposit-taking Institution (ADI) licence, making it a licensed bank in Australia — its first banking licence in the Asia-Pacific region. Full ADI status lets Revolut take retail deposits directly rather than operating through a partner, materially changing its funding cost and product range in the market. It is the clearest sign yet that Revolut's licence-by-licence global expansion strategy is clearing prudential regulators outside Europe.
Source
↳ Follow the thread