Revolut has received a full Authorised Deposit-taking Institution (ADI) licence from the Australian Prudential Regulation Authority (APRA), officially becoming a licensed bank in Australia and marking its first banking entity in the Asia-Pacific region.
The approval allows Revolut to operate under Australia’s banking framework, enabling the company to offer deposit-taking products and expand its portfolio of regulated financial services for customers across the country.
Until now, Revolut operated in Australia without a full banking licence, limiting the range of products it could provide. With ADI status, the fintech is expected to introduce additional banking services over time, including protected deposit accounts and potentially new lending products, placing it in more direct competition with established Australian banks.
Australia has become one of Revolut’s key international markets as the company continues to grow its customer base outside Europe. The new licence strengthens its position in the country while providing a regulatory foundation for broader expansion across the Asia-Pacific region.
The milestone also supports Revolut’s long-term strategy of evolving into a fully licensed global bank. Over the past several years, the company has pursued banking licences in multiple jurisdictions, including Europe, as it expands beyond payments and foreign exchange into savings, lending, wealth management, and other financial services.
For Australian consumers, the move is expected to increase competition in digital banking by introducing another fully regulated provider offering technology-driven financial products alongside established institutions.
The approval reflects a wider trend across the fintech sector, where leading digital finance companies are seeking full banking licences to broaden their product offerings, strengthen customer trust, and operate under comprehensive regulatory frameworks in key global markets.
