Revolut and Nubank, the most highly valued digital banks globally, are competing to break into the US banking market. Both secured conditional US banking charters in 2026, with Nubank launching its offering this month. Revolut plans to expand its limited US presence once fully regulated as a bank.

The fintechs are leveraging a lax regulatory window, but success is critical for their valuations. Revolut needs US traction to justify its $115bn valuation ahead of a planned 2028 IPO.

Nubank, with 135mn customers across Brazil, Mexico, and Colombia, sponsors Inter Miami and rebranded Miami’s stadium as Nu Stadium. Revolut serves 80mn customers in 40 countries and holds banking licenses in the UK and France.

Experts warn the US market is extremely challenging, with over 4,000 banks and entrenched competitors like Venmo and Zelle. Success requires more than innovative payments—it demands deep customer loyalty and regulatory navigation.