Revolut Seeks Banking License in South Africa
- Revolut announced plans to apply for a commercial banking license in South Africa.
- The announcement coincided with the opening of Revolut’s new global headquarters in London.
- Revolut serves over 65 million customers worldwide and aims for 100 million by mid-2027.
Revolut's move to enter the South African banking market is a strategic decision that could significantly disrupt traditional banking practices. With a focus on digital-first customers, the company is well-positioned to capture a substantial market share if it successfully navigates the licensing process and meets local demands.
