Revolut Obtains FCA Approval to Expand Private Wealth Services
On May 14, Revolut received FCA approval to offer private wealth services and leveraged products in the UK.
Overview
- The FCA has issued a Variation of Permissions to Revolut Trading, enabling managed investments and principal dealing for the first time.
- This summer, Revolut intends to launch a UK private banking division with a minimum deposit requirement of £500,000.
- This move follows Revolut’s acquisition of a UK banking licence in March 2026, along with a MiCA crypto licence granted in Cyprus.
Victoria Laffey, head of operations at Revolut Trading, stated that the new permissions are “a crucial element that allows us to integrate investment, advisory, and portfolio management into one platform, improving accessibility.”
The Variation of Permissions empowers Revolut Trading with the necessary regulatory framework to manage client investment portfolios and function as a principal, offering leveraged investment products, discretionary portfolio management, and advisory services for retail, professional, and high-net-worth clients all on a single platform.
FCA approval opens doors for wealth management growth
In March 2026, Revolut secured a full UK banking licence from the Prudential Regulation Authority after completing a three-year application process. This licence marks the fintech’s transition from an electronic money institution to a fully regulated bank, establishing the legal foundation for expansion in wealth management and lending.
The company plans to set up a private banking unit later this summer that will target clients with a minimum of £500,000 in deposits. This threshold positions Revolut between Coutts, which has recently raised its limit to £3 million, and the often-neglected mass affluent segment targeted by traditional private banks.
Revolut’s wealth division has become a prominent revenue driver. The company obtained a MiCA crypto licence through Cyprus in October 2025, allowing it to provide regulated crypto services across 30 European Economic Area markets. Currently, over 10 million customers engage in buying or trading crypto on the platform.
The FCA permissions are in line with Revolut’s broader regulatory growth strategy. The company applied for a US national banking charter in March 2026, aiming for access to American payment systems and credit services ahead of a planned IPO in 2028. Wealth revenues at Revolut increased by 31% to $876 million in 2025, with activities in crypto recognized as a key growth driver.