Revolut officially launches in the US

By Aisling Finn on Tuesday 24 March 2020

Digital Banking

The digital bank teased the jump across the pond all the way back in 2018.

Revolut officially launches in the US
Image source: Revolut

UK digital banking giant, Revolut, has announced it is officially launching in the US. As of today, US customers will be able to download the app and order a debit card.

The challenger bank first announced its plans to move stateside back in 2018, but recently it has been ramping up efforts to launch in the US.

Most recently Revolut hired a new US CEO, Ronald Oliveira, to head up operations across the pond.

In the US Revolut app, customers will be able to hold and exchange 28 currencies and also spend and transfer money globally at the interbank exchange rate.

Through a partnership with Metropolitan Commercial Bank, money held in Revolut apps is insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).

Back on UK soil Revolut has been launching a slew of new features and products of late. 

The digital bank recently launched a perks feature whereby customers can earn cashback and discounts the more they spend with Revolut.

Revolut also recently announced that its Metal and Premium customers can now trade gold positions in the app.

After a massive $500m Series D funding round earlier this year, Revolut is valued at $5.5bn making it one of Europe’s biggest fintechs. 

Revolut is also reportedly on the hunt for a UK banking licence, after having operated in the UK for five years without one.

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