Revolut has won UK regulatory approval to offer leveraged products, private wealth services, and managed portfolio solutions through its trading arm. Victoria Laffey, head of operations at Revolut's trading division, called the FCA licence "the missing piece" that lets the fintech unite investment, advisory, and portfolio management under one roof.

The timing matters. Just months after receiving a full UK banking licence from the Prudential Regulation Authority, Revolut's wealth division helped drive a 31 per cent revenue jump last year to £663mn, with pre-tax profits climbing 57 per cent to £1.7bn on £4.5bn of revenues. JPMorgan flagged in a client note that Revolut's revenue sources are increasingly diversified, with no single product or country contributing more than 30 per cent.

A secondary share sale assigned Revolut a $75bn valuation last year, though the company reportedly targets a $200bn stock market valuation and won't seek a listing before 2028. The licence solidifies Revolut's pivot toward wealthier clients and its position among Europe's largest fintechs.