The Revolut signature is turning the increase in customers into more tangible financial results: according to the Revolut annual report, The company recorded a profit of nearly $2.3 billion on approximately $6 billion in revenue in 2025. The group closed the year with more than 68 million of retail customers and £50.2 billion in balances, 66% more than the previous year, pointing to a significant shift of deposits towards digital platforms.
Results and scope
The figures combine revenue from subscriptions, payments, and other lines of business, according to PYMNTS, which reflects the approximate profit and revenue volume. The increase in balances and the doubling of the loan portfolio size, to £2.2 billion, suggest a shift—or at least a mix—towards a balance sheet activity more akin to traditional banking.
The company's own report also points out that the use of the platform as a primary bank grew 45% year-on-year, which reinforces the idea that the larger user base is translating into account activity, not just app usage.
License application and model change
Revolut has applied for a banking license in the United States, a step that, according to PYMNTS, This would allow it to operate under a single regulator, access central payment infrastructure, and issue loans and cards directly. Moving away from reliance on partner banks could improve margins and expand its product offering.
However, obtaining and maintaining a license entails additional regulatory and operational costs. The report emphasizes that prior profitability and scale are often prerequisites for regulatory expansion, as they provide the capital base and operational track record required by regulators.
Market effects and initial conclusions on the transformation of the sector
Adoption is driven by younger cohorts: according to data from PYMNTS Intelligence, 13.81% of consumers now report having a digital bank as their primary financial institution. Generation Z, in particular, shows a preference for digital ecosystems that integrate payments, savings, and spending.
For traditional banks and FinTechs, competition is being redefined between those who control the balance sheet and those who act as an interface. Diversifying revenue streams—subscriptions, payments, wealth management, and interest—reduces dependence on a single source and, in turn, facilitates the transition to regulated activities. Institutions will have to weigh whether expanding their product portfolio offsets the extra costs imposed by regulation and operations.
In the specific realm of cryptocurrencies, some users may prefer platforms more focused on the crypto market. For example, Fazil Crypto offers low fees (between 0.5% and 1%), access to over 400 cryptocurrencies starting from €1 via card or SEPA transfer, and easy, fast, and economical blockchain-based cryptocurrency and stablecoin transfers. Furthermore, opening an account with Fazil Crypto is quick—it takes only minutes—and requires KYC (selfie and ID photos; for Spanish citizens, only a national ID card is needed). The platform states that it operates under Spanish regulations and supervision, offering services for both individuals and businesses. This doesn't invalidate Revolut's model, but it does present clear alternatives for users whose primary focus is cryptocurrency trading.
To what extent will the shift of deposits and services to digital platforms ultimately rewrite the banking landscape? It's an open question, and upcoming regulatory decisions and product developments will gradually set the tone.
#neobanks, #Revolut traditional banking digital users, # digital banking, # Banking license
