SCOOP: Revolut has received preliminary approval for its U.S. de novo bank charter🚀 The Office of the Comptroller of the Currency (OCC) marked Revolut Bank US, N.A. as approved on 2 September 2026 (OCC control number 2026-Charter-345105). In OCC practice this is preliminary/conditional approval of the national bank charter, not final authorisation to open.

Michael Sherwood, former Goldman Sachs chief and now a Revolut board member, has left the UK for Jersey. Sources say his family had been exploring the move for some time. @SkyNews and @MarkKleinmanSky (who I usually rate highly) have framed it around tax fears. I can't agree - there's no direct evidence that's the reason. Political point-scoring and attention farming seem to be the game. news.sky.com/story/former-go…

Nubank linked to potential Brubank acquisition in Argentina (iProUP via André Santos). Inter and BTG Pactual are also reportedly exploring a deal. Brubank has a full BCRA licence and ~5m customers. A deal would give an immediate local licence, customer base and infrastructure — faster than organic entry. Inter has denied talks; nothing confirmed. Nubank pulled back from Argentina in 2019 after conditions “changed completely” (David Vélez). It scaled in Brazil, Mexico and Colombia, launched in the US, and already serves Argentina via Nu Global. Vélez has recently called the market “more attractive every day” amid deregulation, but still prefers to build from scratch. An acquisition would mean integration challenges (customers, tech, culture). Revolut took a similar (much smaller) licence-buy route, securing BCRA approval in Sept 2026 for Banco Cetelem (launch targeted 2027). Mercado Pago is advancing an organic licence (expected by end-2026); Cocos already has one via Banco Voii. Reports are unconfirmed and follow earlier 2025 rumours that went nowhere. But it's clear that Argentina is back on Nubank’s map.

S&P assigns Revolut its first credit rating: BBB+ with Positive outlook On 22 October 2026, S&P Global Ratings assigned Revolut Ltd. a long-term issuer credit rating of BBB+ with a Positive outlook. This is the group’s first public rating from a major agency and places it at the lower end of investment grade. The Positive outlook reflects S&P’s expectation that the group will build an Additional Loss-Absorbing Capacity (ALAC) buffer over the next two to three years to meet Minimum Requirement for Own Funds and Eligible Liabilities (MREL) requirements. Because Revolut’s balance sheet exceeds the Bank of England’s £40 billion threshold, a bail-in resolution strategy applies. The non-operating holding company is expected to begin issuing senior unsecured debt in 2027 to build this buffer (targeted above 4% of S&P risk-weighted assets), which could support a one-notch rating uplift. S&P highlights Revolut’s strong consumer brand, scalable technology platform and increasingly diversified product offering. The group serves around 80 million customers across 41 countries. Capital is a key strength: the CET1 ratio stood at 47.8% as of 30 June 2026, and S&P forecasts its risk-adjusted capital ratio remaining above 30% over the next 24 months. Return on equity is expected to stay close to 30% over the next two years, supported by 25–30% annual fee and commission growth. Lending is expected to more than double in 2026 and again in 2027 from a low base as Revolut expands unsecured retail lending and develops mortgages in selected markets, though loans are still projected to remain below 20% of total assets. Risks noted include a still-lower share of primary banking relationships versus traditional banks, and operational and compliance complexity from rapid multi-jurisdiction growth. This is a clear maturation milestone for Revolut. It confirms that a digital-only challenger has reached the scale, capital strength, profitability and regulatory maturity that a major rating agency considers investment grade. Among pure-play neobanks, Revolut now holds one of the strongest public global-scale ratings. For Revolut, the BBB+ rating strengthens credibility with institutional partners and regulators, supports access to cheaper funding, and formally recognises the combination of high profitability, a very strong capital position and a scalable technology platform. The Positive outlook adds further optionality for a potential upgrade as the group builds its loss-absorbing buffer. Images/ZUMA Press

JUST IN: S&P assigns Revolut its first credit rating: BBB+ (Positive). Revolut's debt is investment-grade! First major global agency rating for Revolut. Write-up coming up.

The Revolut sign is up on the office building at Castellana 85 in Madrid's financial district. The new Madrid office opens next year, and the company said the space will anchor its growth in Spain 🇪🇸

What do L’Oréal, Revolut, Spotify, Merck, Vodafone, Zara, Porsche, Nestlé and HSBC have in common? They’re all European companies working with NVIDIA on AI.

Does the recent Revolut outage (Google Cloud power failure in London) confirm we need more than one banking account, on different infrastructure, plus some cash in the wallet? I think so. A single cloud-region failure locked people out of their money. High-street banks run on the cloud too, so a branch is no guaranteed fallback when core systems fail. A second account on a different provider, plus a small cash buffer, is basic resilience. For businesses, it’s more complicated, but the principle is the same. This feels like one of the first times we’ve had to say out loud that you can’t rely on a single account anymore. With all the restrictions and dependencies, it seems to be the reality for now. Do you agree? What is your setup for extra resilience?

Google Europe-West2 data centre near London. The weak point that experienced a "power event" and brought down Revolut's services yesterday.

Revolut services are back online after yesterday’s outage. The disruption began shortly after 7am BST on 20 Oct, when a power event hit Google Cloud’s London region (europe-west2-b). Failures interrupted services for hours. Most Google Cloud issues were mitigated by early afternoon; Revolut later confirmed the issue was fixed and services restored. Customer money and data remained safe throughout. The impact was significant. Revolut has about 70m customers in Europe, and it seems most were affected. Reports came from the UK, Ireland, France, Spain and elsewhere. Card payments, transfers, ATMs, currency exchange and app access were affected. Revolut Business (850k+ companies) was also disrupted, hitting payments and operations. Lloyds Banking Group, HSBC, Halifax, UK courts, Rightmove, DPD, and others also reported problems. Customers described abandoned purchases at tills and petrol stations, couldn't pay for travel, and businesses couldn't process payments. This was a clear concentration-risk event. One cloud zone became a single point of failure for critical payment and banking services used by millions. The UK's FCA said it was engaging with Google and affected firms. The PRA and Bank of England were also reported to be in contact under the critical third-party regime (Google Cloud was designated in July 2026). Revolut had previously signalled plans to move to multi-cloud by adding Amazon Web Services (AWS), with a roadmap to 2027. The outage indicates those measures were not yet sufficiently in place for core European operations. Some rivals, such as Monzo, were not widely reported as affected. Google will investigate and publish a fuller report on the power event. That will clarify the technical details, but not the strategic questions: how quickly firms can reduce single-cloud and single-region dependence, and whether workable contingencies are actually ready. An event at one data centre near London was enough to disrupt millions of people and significant commercial activity.

Revolut still partially down after Google Cloud London (europe-west2) power event. App opens now, but can’t move savings. Card purchase went through. Recovery ongoing. Anyone else seeing mixed results?

Revolut outage still ongoing (status page: 30 services partially unavailable). It’s not isolated — Lloyds/Halifax also reporting app & online banking issues. Google Cloud has an active incident in europe-west2 (London) affecting multiple services. Several UK banks appear impacted. Funds confirmed safe, but cards and app access remain unreliable for many.

There are no reports of any hack at Revolut. The company assuring that customer funds and details are safe. Google cloud where Revolut runs most of systems on, also expirencing some technical issues in Europe.

Reportedly Revolut card's do not work due to technical issues at Revolut. Try not to embarace yourself with decline of payment.

Revolut having technical difficulties, it's official now. System status page showed minute ago that all systems are down.

All systems at Revolut ware down when I checked the status page. revolut.com/system-status/

Seems like @Revolut posted here on X that it's expirencing technical difficulties, and then deleted the post.

Revolut app is down for me and many others. Interestingly Revolut system status page says all is operational.