Revolut Secures FCA Approval for Private Wealth Expansion
Revolut obtained FCA approval on May 14 to provide private wealth services and leveraged products in the UK.
Summary
- The FCA has granted Revolut Trading a Variation of Permissions, allowing for managed investments and principal dealing for the first time.
- This summer, Revolut plans to introduce a UK private banking unit with a £500,000 deposit requirement.
- The decision comes after Revolut was awarded a UK banking licence in March 2026 and a MiCA crypto licence through Cyprus.
Victoria Laffey, the head of operations at Revolut Trading, mentioned that the new permissions are “the essential component that enables us to integrate investment, advisory, and portfolio management within a single platform, enhancing their accessibility.”
The Variation of Permissions equips Revolut Trading with the regulatory capabilities to manage client investment portfolios and act as a principal, facilitating leveraged investment products, discretionary portfolio management, and advisory services for retail, professional, and high-net-worth clients all in one platform.
FCA approval paves the way for wealth management expansion
In March 2026, Revolut obtained a full UK banking licence from the Prudential Regulation Authority after a three-year application period. This licence transitioned the fintech from an electronic money institution to a fully regulated bank, providing the necessary legal infrastructure for growth in wealth management and lending.
The firm aims to establish a private banking unit later this summer, focusing on clients with at least £500,000 in deposits. This minimum requirement situates Revolut between Coutts, which has recently increased its threshold to £3 million, and the underserved mass affluent segment often overlooked by traditional private banks.
Revolut’s wealth division has emerged as a significant revenue source. The company secured a MiCA crypto licence through Cyprus in October 2025, enabling regulated crypto services across 30 European Economic Area markets. Over 10 million customers currently buy or trade crypto on the platform.
The FCA permissions align with Revolut’s wider regulatory growth strategy. The firm applied for a US national banking charter in March 2026, seeking access to American payment rails and credit offerings ahead of a planned IPO in 2028. Wealth revenues at Revolut rose by 31% to $876 million in 2025, with crypto activities identified as a key growth factor.