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Simon Taylor: Revolut becomes first global fintech to gain unrestricted banking licence in Australia

Simon Taylor: Revolut becomes first global fintech to gain unrestricted banking licence in Australia
Revolut secures banking licence in Australia

Simon Taylor, co-founder at 11:FS, reports that Revolut has become the first global fintech to obtain an unrestricted authorized deposit-taking institution (ADI) license in Australia.

Taylor recalls that although homegrown Australian neobanks such as Xinja, Volt, and 86 received their ADI licenses earlier, some ultimately exited the market or returned their licences.

Taylor has previously analyzed product launches in the fintech sector. He reported on Robinhood’s introduction of a 7% yield on dollars via the USDG stablecoin to its customer base. In an earlier interview, Taylor shared insights from Robinhood App’s Johann Kerbrat about new yield and stock token offerings.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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