Africazine:
Revolut is poised to transform wealth management in the UK with new regulatory approvals.
On May 14, Revolut received FCA approval to offer private wealth services and leveraged products in the UK. This includes the launch of a private banking unit this summer, requiring a minimum deposit of £500,000.
Revolut’s New Wealth Management Services
The FCA has granted Revolut Trading a Variation of Permissions, allowing it to offer managed investments and principal dealing for the first time. This regulatory framework enables the company to manage client investment portfolios and provide leveraged investment products, discretionary portfolio management, and advisory services.
Victoria Laffey, operations head at Revolut Trading, emphasized that these new permissions will enhance accessibility for users by merging investment, advisory, and portfolio management into a single platform.
Regulatory Milestones for Revolut
Revolut received a full UK banking licence from the Prudential Regulation Authority in March 2026, transitioning from an electronic money institution to a fully regulated banking entity. This upgrade is crucial for the company’s growth in wealth management and lending.
The firm also secured a MiCA crypto licence in October 2025, enabling it to offer regulated crypto services across 30 countries in the European Economic Area. Currently, over 10 million customers are engaged in crypto trading on the platform, making it a significant revenue driver.
Upcoming Plans for Revolut
- Launch of a UK private banking unit this summer.
- Target customers with a minimum deposit of £500,000.
- Application for a US national banking charter in March 2026.
- Planned IPO in 2028.
Revolut is set to redefine wealth management in the UK with its new offerings.
