Revolut and Nubank have secured conditional approval for U.S. banking charters this year. Nubank launched its services in the country this month, aiming to capture a share of the highly competitive American market. Both firms are leveraging a current regulatory environment to expand their operations beyond their home regions.
Revolut, currently valued at $115 billion, is preparing for an initial public offering scheduled for 2028. The company operates in 40 countries and serves 80 million customers, holding banking licenses in the U.K. and France. Meanwhile, Nubank has established a significant presence in Brazil, Mexico, and Colombia.
The U.S. banking sector remains challenging due to complex regulations and the presence of established lenders, including community banks and Wall Street firms. Other international fintechs, such as Monzo, have previously exited the U.S. market to refocus on European operations.
Success in the U.S. depends on attracting Generation Z consumers, who demand integrated financial environments. Data from August 2025 shows that Gen Z users engage in digital financial activities at a rate significantly higher than other demographics, preferring platforms that combine payments, savings, and spending.
