Everybody Gets a Banking License!
Hey Digital Banking Fanatic!
The biggest digital banks in the world just got their homework stamped 🏦
Revolut officially launched as Revolut Bank Australia after securing a full ADI licence from APRA, holding banking licences on three continents:
- Europe (Lithuania and the UK)
- Americas (Mexico)
- Oceania (Australia)
Meanwhile, Nubank is finally becoming a real bank in its own backyard.
Brazil's central bank had long restricted digital banks from holding full banking licences; Nubank operated through payment and brokerage authorisations instead.
The original plan was to acquire Caixa Geral de Depósitos Brazil, but apparently that deal fell through... So Nubank pivoted, and quietly agreed to acquire Banco Porto Real de Investimentos, a move almost no one saw coming - did you?
Where do you think Revolut or Nubank will secure their next banking licence? Let me know in the comments. And before you scroll, don't miss a practical guide to Railsbank (Railsr), where DashDevs break down what it really takes to launch a digital banking product beyond the APIs.
Now, let's dive into today's biggest Digital Banking stories. 👇
Cheers,
INSIGHTS
📰 Railsbank Integration Guide. DashDevs CEO Igor Tomych explains that integrating Railsr requires more than connecting APIs, as companies must build customer lifecycle, compliance, and operational processes alongside the technical implementation. Read the full article here
NEWS
🇧🇷 Nubank strengthens its Brazilian operation with a new banking license. The move comes through the acquisition of Banco Porto Real and deepens the relationship of trust with the company's more than 115 million customers in the country.
🇦🇺 Revolut accelerates global banking expansion with Landmark APAC licence. Revolut is officially launching as Revolut Bank Australia, expanding its financial services to cover everyday banking needs. Australia is the first country in the APAC region where Revolut will operate under a banking licence.
🇫🇷 Revolut’s France hub to face ECB constraints on new lending. Revolut's planned French banking hub is expected to launch with regulatory restrictions similar to those affecting its Lithuanian entity, limiting the rollout of certain new products such as mortgages.
🇪🇸 Revolut has appointed Thomas Hambrett as the new legal representative of its Spanish subsidiary, replacing Nandan Thakur as the digital bank continues its expansion in Spain. The company is also in the final stages of appointing a country CEO, subject to regulatory approval.
🇺🇸 Augustus announces $180M Series B at a $1B valuation to give international FinTechs and banks access to the US Dollar. This new funding accelerates Augustus' mission to dollarize the world, giving financial institutions worldwide direct access to dollar accounts and rails through a modern, federally chartered bank.
🇪🇪 OTP Bank to acquire Luminor. The acquisition of Luminor by OTP Bank will support Luminor’s strategy to further strengthen its position as a top three, universal, pan-Baltic bank, with a digital-first operating model, demonstrated track record, and a modern and scalable IT platform.
🇺🇸 FinWise just bought its card stack, and the quiet trend in bank-FinTech deals. The acquisition gives the bank end-to-end control of its card infrastructure while allowing it to retain a greater share of program revenue previously shared with a third-party provider.
🇰🇷 HashKey teams with KBank to explore won stablecoin payments. Under the partnership, KBank will assess regulatory compliance, BPMG will develop the payment infrastructure, and HashKey will contribute its digital asset network as the companies evaluate new stablecoin-based payment models across Asia.
🇬🇧 UK FinTech Pockit appointed Kazakh entrepreneur Anuar Utemuratov to its board as the prepaid accounts provider continues to expand its leadership team. The appointment follows Pockit's recent acquisition of Monese and supports its strategy of serving consumers with limited access to traditional banking services.
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