Revolut plans to launch a UK private banking unit this summer, targeting clients with at least £500,000 ($630,000) to deposit. The move blends conventional private banking services — leveraged products, discretionary portfolio management, and wealth advisory — with Revolut's existing crypto trading and custody operation. That crypto arm already serves more than 10 million customers.
Who it's for
The £500,000 threshold puts Revolut squarely in the mass-affluent gap traditional private banks have abandoned. Coutts requires £3 million; UBS wants £1 million. Revolut's unit is designed for the customer who has outgrown retail banking but can't — or won't — meet the minimums at a St James's Place or a Swiss house. The firm says it will offer discretionary portfolio management and leveraged products alongside its crypto stack, effectively a one-stop shop for the well-off but not super-rich.
Crypto at the core
Revolut runs one of Europe's largest retail crypto exchanges. Revolut X lists more than 250 tokens, charges zero maker fees, and provides API access plus TradingView charts. Wealth revenue climbed 31% to $876 million in 2025, with crypto activity a meaningful driver. The crypto segment itself grew nearly 300% in 2024 before normalising. More than 10 million customers already hold or trade crypto inside the Revolut app. The new private banking unit will combine that digital-asset infrastructure with traditional services — a hybrid model few incumbents offer.
Regulatory runway
The Financial Conduct Authority granted Revolut Trading permission to offer leveraged products, discretionary portfolio management, and sophisticated investment services. That authorisation sits alongside Revolut's UK banking licence, awarded in March 2026, which gives depositor coverage up to £120,000 ($160,000) per client. On top of that, Revolut secured a Markets in Crypto Assets (MiCA) licence through Cyprus, allowing passportable access across 30 European Economic Area markets. The regulatory foundation is broad enough to support both the private banking push and continued crypto expansion.
Revolut posted pre-tax profit of $2.3 billion in 2025 — its fifth straight year in the black. The private banking unit is part of a broader build-up ahead of a potential Nasdaq listing in 2028, with reports pointing to a $150 billion to $200 billion valuation target. The summer launch will test whether a fintech can credibly pitch itself as a private bank, and whether its crypto-heavy client base is ready to hand over discretionary portfolios. The answer likely shapes Revolut's pitch to Nasdaq investors.
