Revolut has significantly expanded its UK financial services offering after the Financial Conduct Authority (FCA) granted a Variation of Permissions to its trading division, Revolut Trading Ltd. The approval, issued on May 14, allows the fintech to manage client investment portfolios and act as a principal in certain dealings for the first time, enabling a suite of advanced wealth management and investment products.
Key new capabilities include leveraged investment products, discretionary portfolio management, and advisory services for retail, professional, and high-net-worth clients. The company plans to launch a private banking unit later this summer with a £500,000 deposit threshold, positioning it between traditional private banks like Coutts (which recently raised its minimum to £3 million) and the underserved mass affluent segment.
Victoria Laffey, head of operations at Revolut Trading, called the permissions “the missing piece allowing us to unite investment, advisory and portfolio management under one roof, making them even more accessible.” The move builds on Revolut’s full UK banking licence obtained from the Prudential Regulation Authority in March 2026, a three‑year process that transformed the company from an e‑money institution into a fully regulated bank.
Cryptocurrency services remain a central pillar of Revolut’s growth strategy. In October 2025, the firm secured a MiCA crypto licence through Cyprus, granting passportable access to 30 European Economic Area markets. Over 10 million customers already hold or trade crypto on the platform, and crypto activity was cited as a meaningful driver of the wealth division’s 31% revenue surge to $876 million in 2025. While the new leveraged products have not been explicitly confirmed to include crypto derivatives, the expanded permissions and the platform’s deep crypto integration suggest significant potential for cryptocurrency‑related offerings.
The FCA’s decision underscores Revolut’s growing maturity as a regulated entity in its home market, with the company also applying for a US national banking charter in March 2026 ahead of a planned 2028 IPO. For UK consumers, the expansion brings sophisticated investment strategies—previously reserved for dedicated advisors—into a single app alongside everyday banking and payments.
