Finance
Revolut Co-Founder Nik Storonsky Hints at US Banking License Application
- Fintech boss said growing without bank licenses was a mistake
- Fintech eyes $100 billion revenues and 100 million customers
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Revolut boss Nik Storonsky has hinted at making a fresh bid for a US banking license as part of the payment firm’s evolution from foreign exchange startup to global finance firm.
Stornosky told an audience of investors in Helsinki on Wednesday the US market was more credit card-driven and it’s hard to compete without that option, and its ability to earn interchange fees. “In the US, you need to be credit driven. So in the US, we need to have a banking license to launch a product,” he said.