On May 14, 2026 Revolut Trading secured FCA approval via a Variation of Permissions that expands its regulated scope to include managed investments and principal dealing. The permission enables the firm to offer discretionary portfolio management, advisory services and leveraged investment products across retail, professional and high‑net‑worth clients from a single platform.
Victoria Laffey, head of operations at Revolut Trading, said the new permissions are the missing piece that allows the company to combine investment, advisory and portfolio management under one roof and make those services more accessible.
Revolut plans to launch a UK private banking unit this summer aimed at clients with a minimum of £500,000 in deposits. That threshold positions the new service between ultra‑private banks such as Coutts, which now requires significantly higher balances, and the mass‑affluent segment that many traditional private banks have largely left underserved.
The FCA approval builds on Revolut’s recent regulatory progress. The company won a full UK banking licence from the Prudential Regulation Authority in March 2026 after a three‑year application process, transitioning it from an electronic money institution to a fully regulated bank and providing the legal foundation for expanding into wealth management and lending. Revolut also secured a MiCA crypto licence through Cyprus in October 2025, giving passportable access to around 30 EEA markets for regulated crypto services; more than 10 million customers already hold or trade crypto on its platform.
Revolut has been pursuing broader international expansion too: it applied for a US national banking charter in March 2026 to access American payment rails and credit products as part of a longer‑term plan that includes a targeted 2028 IPO. Wealth revenues have become an important contributor to the group, rising 31% to $876 million in 2025, with crypto trading cited as a meaningful driver of that growth.
Taken together, the FCA Variation of Permissions and Revolut’s banking licence give the company the regulatory tools to integrate banking, wealth and crypto offerings, enabling a unified proposition for advisory, discretionary management and leveraged products across client segments.